Watching for a Break-out from the Down-Trend

2021년 6월 10일

Entered this degenerate trade.
Good risk reward ratio.
Historically, buying at the bottom of the main channel proved profitable.
Monthly RSI starting to bottom out.
I'm betting the DIAMOND support line is gonna hold again.
I'm willing to wait this out until next earnings in August.

Previous earnings were negative because BABA paid a monopoly fine.
Chinese middle class is growing.
BABA is posturing to dominate Asian cloud services by building data centers in Manila and South East Asia.
Chinese government is okay with Jack Ma being alive.