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.
Alibaba Group Holding Limited (NYSE:BABA) stock is trading higher on Thursday. At the same time, Chinese indexes IShares China Large-Cap ETF (NYSE: FXI), IShares MSCI China ETF (NASDAQ: MCHI), and KraneShares Trust KraneShares CSI China Internet ETF (NYSE: KWEB) exhibited mixed performance.
China's markets remained wary ahead of important economic indicators on Friday.
Meanwhile, Daniel Zhang's abrupt departure as the head of Alibaba's prominent cloud division marks a notable development, suggesting that Jack Ma still wields considerable influence over the Chinese technology behemoth he co-founded and guided for over two decades, the Financial Times reports.
Zhang took the helm of Alibaba Group in 2015 and succeeded Ma as chairman in 2019, a transition amid heightened scrutiny from Chinese authorities.
Earlier this year, he relinquished these roles to two long-standing confidantes of Ma. Zhang's resignation from the cloud division signifies the end of his era at the company.
Concurrently, the return of another trusted Ma associate, Wang Jian, adds a layer to this narrative.
Wang Jian, who co-founded Alibaba Cloud and departed from the unit a decade ago, has now rejoined as a cloud division's board of directors member.
Industry analysts interpret Zhang's departure as an indicator that Alibaba's restructuring efforts, initiated in March, may have failed to meet initial expectations.
Price Action: BABA shares traded higher by 1.34% at $88.81 premarket on the last check Thursday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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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