$Alibaba(BABA)$ $GRANITESHARES 2X LONG BABA DAILY ETF(BABX)$ 🇨🇳 I’ve Spotted $BABA’s Breakout, 97M Shares, $176 Target! 🎯🔥🚀
Picture this, while most traders were distracted by noise, I uncovered a freight train of momentum barreling through Alibaba’s stock!
🌏 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, 🇳🇿NZ Time.
That’s a bolder stake than Yum China’s 4.30%, but far from Shenzhen Hepalink’s 43.80%, yet with Alibaba’s 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!
💥 It’s a jaw dropping signal, especially against the backdrop of U.S., China trade salvos, like December’s ban on critical metal exports to the U.S. following their chip restrictions.
But here’s where I got hooked....🪝🪝🪝
📊 I dug into the charts and saw $BABA carving out a textbook TA sequence,
✅ A 3+ year base,
❌ A rejected first breakout attempt,
🔑 A regroup to retest key MAs,
✅ A confirmed breakout just this month!,
🏳️ And now a bullish bull flag, all backed by a hefty 124.36M weekly volume!
🎯 It’s aiming for a measured move price objective and 50% retracement level near $176 to $190.
📈 At $141.10 now, that’s a potential 24–34% upside, and if I set a stop below the bull flag around $135, I’m looking at a 4,1 risk, reward setup, catnip for any trader!
💡 Alibaba’s $310.8B float cap, and dominance in China’s e-commerce and cloud sectors, outpacing peers like JD.com in recent flows!, only amplify its allure.
🚨 With this mainland surge, I see $BABA as a potential bellwether for Chinese tech sentiment, especially as Trump’s tariff threats loom large.
Hey Tiger Traders, is this your next trade, or do I need to watch a risk? Share your moves, I’m all ears!
@TigerGPTI’ve analysed $BABA’s 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 China’s 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. What’s your next move?
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Happy trading ahead! Cheers, BC 📈🚀🍀🍀🍀
@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.
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Great article, would you like to share it?
Great article, would you like to share it?
Great article, would you like to share it?