Alibaba US : The stock experienced a significant peak at $320 in October 2020, followed by a sharp decline to a low of $57.3 in October 2023. However, it appears that a bottom was established at $57, as evidenced by the recent rebound to $121, followed by a sideways correction. The daily chart's Elliot wave analysis indicates that wave 2 correction ended at $80, and wave 3 is currently under development. The confirmation of wave 3 will occur when the price breaks away from the $121 level, potentially targeting $138/$176/$238.
Zooming in on the 4-hour chart, a very bullish chart pattern emerges, with Elliot wave 3 of 3 indicating an upward trend. The 2 wave degree is pointing upwards, with targets at $109/$112/$125. Key support levels are identified at $90/$86/$78, while immediate resistance levels stand at $121/$137/$176.
Based on this analysis, a potential trading/investment plan could be as follows:
Long-term Investment: Considering the potential wave 3 development and higher targets ($138/$176/$238), long-term investors may consider entering a partial position now and adding more upon the confirmation of wave 3 at the break of $121. Patience is essential, and holding for the long-term to capture the higher targets might yield substantial gains.
Short-term Trading: Traders could take advantage of the bullish momentum in the 4-hour chart. They may initiate a position when the price breaks above $121, with targets set at $137 and $176. Trailing stop-loss orders could be placed to protect gains and minimize losses.
Risk Management: As with any investment, risk management is crucial. Determining stop-loss levels based on support zones ($90/$86/$78) can help limit potential losses in case of adverse price movements.
Continued Monitoring: Keep a close eye on the price action and news developments related to the stock to make informed decisions throughout the trading/investment period.
Remember, trading and investing carry inherent risks, and it's essential to conduct further research and consult with a financial advisor before making any decisions. The market is always subject to fluctuations, so flexibility and adaptability are vital in executing the trading/investment plan. Good luck!
Zooming in on the 4-hour chart, a very bullish chart pattern emerges, with Elliot wave 3 of 3 indicating an upward trend. The 2 wave degree is pointing upwards, with targets at $109/$112/$125. Key support levels are identified at $90/$86/$78, while immediate resistance levels stand at $121/$137/$176.
Based on this analysis, a potential trading/investment plan could be as follows:
Long-term Investment: Considering the potential wave 3 development and higher targets ($138/$176/$238), long-term investors may consider entering a partial position now and adding more upon the confirmation of wave 3 at the break of $121. Patience is essential, and holding for the long-term to capture the higher targets might yield substantial gains.
Short-term Trading: Traders could take advantage of the bullish momentum in the 4-hour chart. They may initiate a position when the price breaks above $121, with targets set at $137 and $176. Trailing stop-loss orders could be placed to protect gains and minimize losses.
Risk Management: As with any investment, risk management is crucial. Determining stop-loss levels based on support zones ($90/$86/$78) can help limit potential losses in case of adverse price movements.
Continued Monitoring: Keep a close eye on the price action and news developments related to the stock to make informed decisions throughout the trading/investment period.
Remember, trading and investing carry inherent risks, and it's essential to conduct further research and consult with a financial advisor before making any decisions. The market is always subject to fluctuations, so flexibility and adaptability are vital in executing the trading/investment plan. Good luck!
SC adds seven entities to Investor Alert List, two being potential clones:: https://theedgemalaysia.com/node/677081
The Edge Malaysia
SC adds seven entities to Investor Alert List, two being potential clones
KUALA LUMPUR (Aug 2): The Securities Commission Malaysia (SC) has updated its Investor Alert List.
SC calls for younger generation participation in capital market to increase vibrancy:: https://theedgemalaysia.com/node/677668
The Edge Malaysia
SC calls for younger generation participation in capital market to increase vibrancy
The capital market needs more younger generation participation to ensure the vibrancy of the stock market in the future, said Securities Commission Malaysia (SC) chairman Datuk Seri Dr Awang Adek Hussin.
Elliot Wave Technical Analysis
KNM Technical Analysis - Potential Bullish Breakout and Volume Analysis Summary: In this technical analysis of KNM, we highlight potential bullish indications as the stock entered Stage 2 on 2nd of June after breaking away from RM0.075. KNM has been trading…
any one keen to learn to trade and invest ? pls PM me and I will guide u
Elliot Wave Technical Analysis
https://themalaysianreserve.com/2023/09/11/german-billionaire-takes-on-malaysian-tycoon-for-knm-control/
The stock KNM has demonstrated a consistent level of immediate support within the range of 0.100 to 0.105, and this support has held firm over the course of several trading days. There is growing anticipation that additional buying interest may emerge in response to rumors suggesting that a prominent German tycoon is considering acquiring a controlling stake in the company. It is believed that, when the right conditions align, there is a strong possibility that the stock may surge beyond the 0.135 mark.
Keen to be learn to be profitable traders ? You can join us without any cost … pls pm @EdWINGoh6389 if you interested
Transparent trading record! Just follow profitable trader ways😁