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 Ltd - ADR (NYSE:BABA) shares are trading lower by 1.4% to $85.00 Thursday morning on recent, continued weakness. Shares of several Chinese stocks are trading lower Thursday following China Evergrande Group stock being suspended in Hong Kong amid reports that its chairman has been under police surveillance.
Chinese stocks began their recent volatility amid concerns over the country's property sector following reports suggesting China Evergrande said it's unable to issue new debt due to an ongoing investigation into its Hengda Real Estate subsidiary.
Why It Matters
The China Evergrande crisis can raise concerns about broader economic stability in China. Alibaba, as a major player in China's e-commerce and technology sector, could face headwinds if the crisis leads to reduced consumer spending, lower business confidence or an economic slowdown.
This could impact Alibaba's revenue growth, especially in its core e-commerce business.
Alibaba has already been under increased regulatory scrutiny in China. The Evergrande crisis might lead to even tighter regulatory oversight, as the Chinese government may aim to stabilize the financial sector.
Regulatory actions or uncertainty can affect Alibaba's business operations and growth prospects.
What's Going On With Evergrande?
Evergrande, the beleaguered Chinese property developer, said Friday that it was cancelling a creditor meeting scheduled early this week. It said that “sales had not been as expected”.
The announcement is the latest in a series of scandals to hit the Chinese financial behemoth. Mid-September, the domestic regulator approved a 50% sale of its insurance business China Evergrande Life into a special purpose vehicle owned by the Chinese state to free up cash.
Then last week, staff in the company’s wealth management division were detained by Shenzhen police...Read More
According to data from Benzinga Pro, Alibaba has a 52-week high of $121.30 and a 52-week low of $58.01.
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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