20-Year Pro Trader Reveals His "MoneyLine"
Ditch your indicators and use the "MoneyLine". A simple line tells you when to buy and sell without the guesswork. It’s a line on a chart that’s helped Nic Chahine win 83% of his options buys. Here's how he does it.
Chinese regulators suspended an information-sharing partnership with Alibaba Group Holding Ltd (NYSE:BABA) Alibaba Cloud Computing, Reuters reports.
- Alibaba Cloud allegedly failed to promptly report vulnerabilities in the popular, open-source logging framework Apache Log4j2 to China's telecommunications regulator as per 21st Century Business Herald, citing the Ministry of Industry and Information Technology (MIIT).
- As a result, the MIIT suspended a cooperative partnership with the cloud unit regarding cybersecurity threats and information-sharing platforms, to be reassessed in six months and revived depending on the company's internal reforms.
- China had already ordered state-owned companies to migrate their data from private operators like Alibaba and Tencent Holdings Ltd (OTC:TCEHY) to a state-backed cloud system by 2022.
- Alibaba Cloud recently discovered a remote code execution vulnerability in the Apache Log4j2 component, notifying the U.S.-based Apache Software Foundation.
- MIIT received a report from a third party about the issue rather than from Alibaba Cloud.
- Analyst Rating: CLSA analyst Elinor Leung reiterated an Outperform on Alibaba with a $250 price target, implying 103.3% upside. The re-rating follows Alibaba's investor day.
- CEO Daniel Zhang reiterated Alibaba's three strategic engines, China consumption, globalization, and technology.
- Zhang believes China's consumption can continue to grow and that cloud "is the next big growth pillar."
- AliCloud "enjoys unparalleled competitive advantages and a strong technological lead," says Leung. Leung views Alibaba as cheap at current levels.
- Related Content: Read Why Goldman Sachs Is Bullish On Alibaba After Its 2021 Investor Day 2
- Price Action: BABA shares traded lower by 3.69% at $118.44 in the premarket session on the last check Wednesday.
20-Year Pro Trader Reveals His "MoneyLine"
Ditch your indicators and use the "MoneyLine". A simple line tells you when to buy and sell without the guesswork. It’s a line on a chart that’s helped Nic Chahine win 83% of his options buys. Here's how he does it.
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