Alibaba is probably China's best-known technology business. It can boast of its biggest online marketplaces in the country, Taobao and Tmall, as well as the largest cloud infrastructure platform, Alibaba Cloud.
Our Analysis:
While the price is below 214.70, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 206.00
- Take Profit 1: 190.40
- Take Profit 2: 185.00
Alternative scenario:
If the level 214.70 is broken-out, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 214.70
- Take Profit 1: 224.30
- Take Profit 2: 230.10
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