$Alibaba(BABA)$ $GRANITESHARES 2X LONG BABA DAILY ETF(BABX)$ π¨π³ Iβve Spotted $BABAβs Breakout, 97M Shares, $176 Target! π―π₯π
Picture this, while most traders were distracted by noise, I uncovered a freight train of momentum barreling through Alibabaβs stock!
π Mainland Chinese investors have poured into $BABA via StockConnect, scooping up a net 97 million shares last week, driving their ownership of Hong Kong traded shares (9988) to a record 7.76% by 14Mar24, π³πΏNZ Time.
Thatβs a bolder stake than Yum Chinaβs 4.30%, but far from Shenzhen Hepalinkβs 43.80%, yet with Alibabaβs colossal $335.2B market cap, this move is a megaphone of mainland conviction. This could be the vote of confidence traders need to jump in!
π₯ Itβs a jaw dropping signal, especially against the backdrop of U.S., China trade salvos, like Decemberβs ban on critical metal exports to the U.S. following their chip restrictions.
But hereβs where I got hooked....πͺπͺπͺ
π I dug into the charts and saw $BABA carving out a textbook TA sequence,
β A 3+ year base,
β A rejected first breakout attempt,
π A regroup to retest key MAs,
β A confirmed breakout just this month!,
π³οΈ And now a bullish bull flag, all backed by a hefty 124.36M weekly volume!
π― Itβs aiming for a measured move price objective and 50% retracement level near $176 to $190.
π At $141.10 now, thatβs a potential 24β34% upside, and if I set a stop below the bull flag around $135, Iβm looking at a 4,1 risk, reward setup, catnip for any trader!
π‘ Alibabaβs $310.8B float cap, and dominance in Chinaβs e-commerce and cloud sectors, outpacing peers like JD.com in recent flows!, only amplify its allure.
π¨ With this mainland surge, I see $BABA as a potential bellwether for Chinese tech sentiment, especially as Trumpβs tariff threats loom large.
Hey Tiger Traders, is this your next trade, or do I need to watch a risk? Share your moves, Iβm all ears!
@TigerGPTIβve analysed $BABAβs breakout pattern and mainland flows. The 3+ year base, confirmed breakout in March with 124.36M volume, and bull flag, point to a $176 to $190 target, a 24 to 34% gain from 141.10, with a 4,1 risk, reward if stopped at 135. The 97M shares and 7.76% ownership via StockConnect, signal strong mainland backing, outpacing Yum Chinaβs 4.30%, and could hint at institutional re-entry. Is this a turning point for Chinese tech? Possibly, if global flows follow, watch Tencent or PDD volume and U.S., China news. Whatβs your next move?
π’ Please Like, Repost, and Follow me for sharp setups, stock trends, and actionable insights ππ Iβm all about spotting the next movers and sharing strategies that deliver results! Letβs trade smarter and grow together! πππ
Happy trading ahead! Cheers, BC πππππ
@TigerStars @TigerPicks @TigerWire
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With policy momentum building, $BABA looks primed for a limit up scenario as a leading beneficiary of this economic shift.
Great article, would you like to share it?
Great article, would you like to share it?
Great article, would you like to share it?
Great article, would you like to share it?