Alibaba has yet to break out from 77 resistance price level
Chill, guys ,there is no need to get into FOMO just because there are plenty of conversations going on about buying Alibaba shares. Just look at the chart carefully, it has been in this consolidation stage since Oct 2023.
Let the price breaks about 77 level and convincingly with a bullish signal , you can still go LONG . There is no guarantee that those who got in at 60+ price level will be making huge profits since no one knows :
1) how long the consolidation phase will last
2) undervalued shares can go under valued for a long time
NO right or wrong strategy, some prefer confirmation and a higher margin of safety while others are already convinced of its fundamentals and are willing to ride out the volatility. Different folks, different strokes.
Let the price breaks about 77 level and convincingly with a bullish signal , you can still go LONG . There is no guarantee that those who got in at 60+ price level will be making huge profits since no one knows :
1) how long the consolidation phase will last
2) undervalued shares can go under valued for a long time
NO right or wrong strategy, some prefer confirmation and a higher margin of safety while others are already convinced of its fundamentals and are willing to ride out the volatility. Different folks, different strokes.
Comment:
Today is a celebration day as Alibaba has finally came out from the dark ! 7 months of volatility with mixed news and driving investors crazy.......