Chart of the Day: Has the Tide Finally Turned for This Chinese E-Commerce Giant?

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Chinese stocks like Alibaba have been under pressure for the last 1-1/2 years, but now the tide could be turning.

The first pattern on today’s chart is the high-volume bullish gap on March 16 after officials in Beijing took a more supportive approach toward financial markets. Notice how BABA never revisited the prior lows in the two months following the jump.

Second you have the falling trendline and …

For more, please click here to view the related idea and chart analysis on TradingView.

Alibaba (BABA), daily chart with selected events, courtesy of TradingView.
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