Part-timer
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$Alibaba (BABA.US)$ poor thing, what a rubbish share. Price down everyday...
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$Alibaba (BABA.US)$
$KraneShares CSI China Internet ETF (KWEB.US)$
$Hang Seng TECH Index (800700.HK)$
baba did a good move of 2% last night. Although not on the best volume as some has already started their thanksgiving holiday early. We should start to see bigger movements on Friday and even Monday.
Based on my analysis on Kweb, it has rebounded off my wedge support lines and it looking to make the move towards top of wedge now.
Which I had prepared by loading up on calls for kweb.
Kweb seems to be in an accumulation phase currently as my indicators has been pinging of divergences in volume and price action. However this does not mean every stocks in the ETF is in the same phase. And accumulation phase may take some time before we see the spring upwards.
But this short term general sentiment of kweb moving towards top of wedge should somehow help baba with the technical rebound. We will see if it does happen though and be prepared for all possibilities as the China Market may start selling off despite the good close we had yesterday.
As always, trade safe & invest wise!
$KraneShares CSI China Internet ETF (KWEB.US)$
$Hang Seng TECH Index (800700.HK)$
baba did a good move of 2% last night. Although not on the best volume as some has already started their thanksgiving holiday early. We should start to see bigger movements on Friday and even Monday.
Based on my analysis on Kweb, it has rebounded off my wedge support lines and it looking to make the move towards top of wedge now.
Which I had prepared by loading up on calls for kweb.
Kweb seems to be in an accumulation phase currently as my indicators has been pinging of divergences in volume and price action. However this does not mean every stocks in the ETF is in the same phase. And accumulation phase may take some time before we see the spring upwards.
But this short term general sentiment of kweb moving towards top of wedge should somehow help baba with the technical rebound. We will see if it does happen though and be prepared for all possibilities as the China Market may start selling off despite the good close we had yesterday.
As always, trade safe & invest wise!
15
Part-timer
reacted to and commented on
$SGX (S68.SG)$ just saw the dividend received. decent but way below my loss.. haha..
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Part-timer
reacted to
$Alibaba (BABA.US)$
Baba is indeed dropping in volume despite price getting lower. This is signs of shorting getting lesser at this levels as risk to reward Is no longer as tempting. However, this also shows that there is very little buyers at this levels otherwise there would be a large increase of volume with a green day.
The technical rebound is coming soon, however do not rule out the fact it may only come after touching 129 critical support and thus the reason my calls were bought out to Jan expiry in case that was the case. This is the reason I mentioned it was a risky move as you do not know if it will come this week or only after touching 129 support. If it does fall to 129, that will be a zone where many buyers are camping at and it will be the point I average down on my calls to capitalise on the rebound after that for a higher profit potential.
However do note if it breaks 129 without any significant rebound, it will be a cut loss for me as it means that baba room to fall will go all the way to 123 and even 110s. In my opinion I do not see this happening yet due to low selling volume even before touching the 129 zone. But you do not rule out the possibilities it may happen and that's the reason for risk management.
As always, trade safe & invest wise!
Baba is indeed dropping in volume despite price getting lower. This is signs of shorting getting lesser at this levels as risk to reward Is no longer as tempting. However, this also shows that there is very little buyers at this levels otherwise there would be a large increase of volume with a green day.
The technical rebound is coming soon, however do not rule out the fact it may only come after touching 129 critical support and thus the reason my calls were bought out to Jan expiry in case that was the case. This is the reason I mentioned it was a risky move as you do not know if it will come this week or only after touching 129 support. If it does fall to 129, that will be a zone where many buyers are camping at and it will be the point I average down on my calls to capitalise on the rebound after that for a higher profit potential.
However do note if it breaks 129 without any significant rebound, it will be a cut loss for me as it means that baba room to fall will go all the way to 123 and even 110s. In my opinion I do not see this happening yet due to low selling volume even before touching the 129 zone. But you do not rule out the possibilities it may happen and that's the reason for risk management.
As always, trade safe & invest wise!
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$Alibaba (BABA.US)$ free fall now 😭
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Novavax stock price target cut to $172 from $200 at J.P. Morgan $Novavax (NVAX.US)$ $JPMorgan (JPM.US)$
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