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Investing 101 commented on a stock · Dec 10, 2021 17:57

$Alibaba (BABA.US)$$KraneShares CSI China Internet ETF (KWEB...

$Alibaba (BABA.US)$ $KraneShares CSI China Internet ETF (KWEB.US)$
Baba has closed green today. The sellers had trouble even trying to keep baba in the red with the low volume selling. Buyers are stepping in now and we can already see the demand overpowering supply here with low volume day as there is basically no more supply.

Those who wanted to sell, already sold. Those who wanted to take profit already did. The rest are waiting for higher prices. Past 3 days were signs the sellers were weak and buyers were about to take over. We saw that today and it should continue on Monday as well.

Overall US indices has finished their pullback and now heading to new highs with SPX leading the way today. China has also switched focus to economic growth instead of clampdown and will make economic growth their priority in 2022 after all the regulatory fines in 2021.

This are signs the Kweb etf should start recovering from here which I mentioned 39 should be it's bottom. It has yet to break 43.40 which was the resistance to show the 39 drop was the spring. But it should as soon as next week.

However fomc next week will still be the topic in focus. But it should all already be priced in like today CPI 6.8% data.

As always, trade safe & invest wise!

Do subscribe to my YouTube channel for your once a week TA and market outlook!
https://www.youtube.com/c/investing101channel
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