Alibaba and its affiliates are in for the long game. All their actions are geared towards development and growth of the company. The mgmt isn't concerned with the macro situation because they are very focused on their objectives and this shows how determined they want to move the company forward past the current speed bump.
Chinese ADRs
Tracking the US-listed Chinese companies.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
Comments
In analysing resistance, we note an important area.
The resistance area ranges from 18.36 to 18.36. This area is made up of a combination of multiple trend lines over multiple time frames.
BABA has a poor technical rating and does not currently offer a high quality set-up. The price has continued to rise recently. For a good entry point, it is best to wait for consolidation.