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 lower Thursday since reports cited producer and consumer prices in mainland China trailed market expectations, fueling concerns about the nation's economic rebound.
Producer prices in mainland China dropped 2.5% in September from a year earlier, missing the consensus of a 2.4% decline versus a 3% deflation in August. The consumer prices were flat, missing the consensus of a 0.2% growth, SCMP reports.
China's Big Four lenders reverted, yielding some significant gains overnight.
Meanwhile, the U.S. prepared to close the loophole that helped Chinese companies access American artificial intelligence (AI) chips through overseas units, Reuters cites familiar sources.
In August, the U.S. ordered Nvidia Corp (NASDAQ:NVDA) and Advanced Micro Devices, Inc (NASDAQ:AMD) to restrict shipments of AI chips beyond China to other regions, including some countries in the Middle East. Reportedly, the U.S. will likely apply those same restrictions on AI chips more broadly to all companies in the market.
In 2022, the U.S. slapped restrictions on shipments of AI chips and chipmaking tools to China, seeking to foil its military advances.
On a positive note, Alibaba's logistics arm, Cainiao Network, launched its half-day express delivery service in collaboration with Tmall Supermarket in Beijing ahead of the upcoming Singles Day shopping carnival.
Cainiao looks to deliver orders in the afternoon when a consumer places an order before noon, while a before midnight orders before noon the next day.
Alibaba expanded the half-day express delivery service to 20 cities like Hangzhou, Shanghai, Chengdu, Guangzhou, and Shenzhen across the country.
In September, Cainiao filed for its initial public offering on the Hong Kong Stock Exchange, making it the first Alibaba business unit to go public following a significant restructuring.
Price Action: BABA shares traded lower by 0.60% at $84 premarket on the last check Friday.
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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