December 31 2020
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BABA | Alibaba Group Holding Stock Charting From IPO
Picture worth a thousand words, see chart. Price Action shot up in 2020. But has a major pullback in October. Price Action is now submerged below last year high. Although 2020 is a great year for Alibaba. Now all earning are gone, effort wasted.
2018, and 2019 are same or about the same year high. Price Action supported at same level, strong.
Taking Profit Now? Or Hold. The stock took two plus years to break away from the lost, price below IPO. Price Action retest the IPO price in 2018 and 2019 before the high this year.
Market has may news about how the price crash. The true is the price is now pullback, a big big pullback. Manage your risk. Picture worth a thousand words.
Who is the Biggest Loser?
Your lost is small, compare to Jack Ma.
Alibaba Group Holding Limited stock led a second day of frenetic selling driven by fears that antitrust scrutiny. Read more from Alibaba antitrust probe causes concern on what’s next for Chinese tech.
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We do not recommend buy or sell of any financial instrument. All information post here is to show the power of Amibroker charting software and technical analysis (TA). If you do not know what is TA, please find a training to go through.