for this year when its price plunged more than 10% after it announced poor results on 18 Nov. This plunge comes a bit unexpected as I am expecting a pullback instead. After this purchase, I have accumulated 500 shares of 9988 at average price of HK$166. Moving forward, my plan would be to make use of selling call options to lower my average price.
For technical analysis of BABA and 9988, the inverse head-shoulder formation has became invalid after the plunge. Currently, both are very near a critical support level at about US$138 and HK$132 respectively.
Added 9988 @ HK$139.80.
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