As most readers already know, Alibaba remained my largest position to date in the portfolio with over 30% weightage. Over the past couple of months, I’ve gone through many articles on my positions for Chinese tech companies so I’ll go through a quick one this time of what I am seeing in the Baba’s chart. Do note that Baba is expected to announce an earning results next week on the 18th November, so I’ll be taking a close look of their development fundamentally. For this article, I’ll be doing a technical analysis to see what might be in store over the next couple of weeks and months and how I derived at my potential short term target of $200 and mid term target of $230.

Inverse Head and Shoulder Pattern Forming – 2021

I like how Baba closed this week with a relatively strong buying support above its EMA20...