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$BABA 300%+ Investment Opportunity

Written By: ChartChamp

December 15, 2023

China injected $112 billion into their economy to revive economic growth

I think Chinese stocks are extremely undervalued due to China’s deflationary economic environment and Biden’s trade restrictions of AI chips to China.

$BABA is finally starting to show some bullishness in the buy zone, I see this as a 300%+ trade opportunity towards all time high. But it will take some time to play out, these are monthly candles.

BABA is currently within my buy zone and is starting to show some bullishness. The price is near the lows of the monthly Bollinger Bands, which is favorable for a long trade setup. The price is also significantly below the EMA ribbon, which is also favorable for opening a long. 

Price targets: 
The white trendlines are my key resistance levels on the way up, and the EMA ribbon has also been acting as resistance that has pushed BABA’s price lower. I think the EMA ribbon will act as a resistance zone for BABA on the way up as well.

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