$BABA TOP 10 & TOP 20
Added 2025-05-04 18:17:38 +0000 UTCBig day for $BABA on Friday, jumped +4.3% and broke back up above the blue line at $121 and finished the week at $125 for an impressive finish.
We can see clearly on the daily chart that the 50 Day MA was the resistance level at $126.60 exactly on Friday and the price action did not have the legs to go higher.
So the brief is the same here, we want to see the blue support line flipped to support, once we see this then I believe we can continue to move higher to $162.
People forget that in Trumps first term that there were threats of $BABA and other Chinese ADRs being delisted and it didn't happen....since then most of these companies now have duel listings on other exchanges, meaning there is very little benefit from delisting on the US exchange, in spite of this, I do not believe it is a factor and we do not move from our position by way of scare mongering, the smartest institutional investors have been buying heavy into $BABA over the last 12 months.
MAGA supporters don't like Chinese positions, that's their comfort zone.
We buy undervalued positions and are being rewarded for our unbiased approach to intelligent investing.
