Post Dragon Boat Festival, BABA moves higher.
Looking back at BABA's chart, I noticed that it has moved higher after the annual Dragon Boat Festival. Last year, the Hong Kong Market was closed for one day (Friday) making it a three-day weekend for the Chinese market. This year, it was even longer. With four days of pent-up demand at defined supply levels, I see this having an aggressive, short-term move upward.
In 2022, BABA made an approximately 30% impulse to upside resistance after the three-day weekend.
This year, after a four-day weekend, I'm projecting a 30-37% move from Monday to Wednesday.
With the restructuring of management and stimulus entering the Chinese economy. We could see aggressive upside potential from here.
This is not financial advice. Past performance does not guarantee future results.
In 2022, BABA made an approximately 30% impulse to upside resistance after the three-day weekend.
This year, after a four-day weekend, I'm projecting a 30-37% move from Monday to Wednesday.
With the restructuring of management and stimulus entering the Chinese economy. We could see aggressive upside potential from here.
This is not financial advice. Past performance does not guarantee future results.
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.