Sensetime backed by Alibaba up 40% in 2 days

2022-01-04

Sensetime backed by Alibaba up 40% in 2 days. This could be catalyst for Alibaba recovery and HK market in general

“Looking at an technical chart, we see the Hang Seng’s RSI, BOLL and MACD iSensetime backed by Alibaba up 40% in 2 daysndeed show signs of bottoming. After several months of volatility, the downward momentum of Hong Kong stocks has slowed. Zhang Yidong, Global Chief Strategist and General Manager of Overseas Research Center of Singyes Securities, believes that Hong Kong stocks have reached support at the bottom and a technical bull market is expected to emerge next year, with gains of up to 15-20% from the end of 2021 to the high point in 2022.”$Alibaba(BABA)$ $Alibaba(09988)$

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