📺🚢👌💰💰earn 3% Baba overnite rise why did I buy on support yesterday my personal opinion do follow my live feed trade
Buying the Dip on Alibaba (BABA) at $100.13
Yesterday, I capitalized on a technical correction for Alibaba (BABA), entering at $100.13. The stock had been retracing from a recent high of $117.82, and I observed support forming near the lower Bollinger Band, a reliable indicator of potential reversals. Overnight trading brought the stock back up to $103, a nice 3% gain in just a few hours. This reinforces my strategy of buying on corrections when the price dips into strong technical support zones. The stock’s current movement above $100 aligns with the mid-Bollinger band at $105.57, signaling potential for further recovery.$Alibaba(BABA)$
Three Reasons Why Alibaba is a Good Stock:
1. Market Leader in China’s E-Commerce: Alibaba dominates China’s vast e-commerce landscape. With a growing middle class and increasing online penetration, Alibaba is well-positioned to capture more consumer spending.
2. Cloud Computing Growth: Alibaba Cloud is the top cloud service provider in China and is expanding rapidly in other markets, contributing significantly to the company’s revenue and long-term prospects.
3. Undervalued Post-Regulation: After regulatory crackdowns, Alibaba’s stock is trading at attractive valuations compared to its global peers, offering significant upside potential as China eases its regulatory stance on tech 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.
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