Revisting this beautiful chart of $BABA
Revisting this beautiful chart of $Alibaba(BABA)$ $BABA-W(09988)$ . Of course the last thing we want to see is a breakdown below that new trendline.
Mainland Chinese investors continue gobbling up shares through the StockConnect. They now own 3.6% or 691.4m shares. That's an increase of 46.9m shares over the past week.
My estimates appear to be within ballpark that 20% to 25% of Alibaba's HK trading volume will be driven by mainland investors. That's not nothing.
We are hitting peak SinglesDay shopping season in China. Plus, we have a likely boost to consumption via stimulus measures later this week. Expect that boost to be bigger should Trump win back the White House.
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