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Saturday, 03/10/2018 8:52:06 AM

Saturday, March 10, 2018 8:52:06 AM

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Alibaba, Tencent, JD.com Lead 5 Top Chinese Internets That Just Carved New Buy Points
By: Investor's Business Daily | March 10, 2018

Several top-rated Chinese internet stocks just popped back on the radar. Alibaba (BABA), JD.com (JD), Tencent (TCEHY), YY Inc. (YY) and 58.com (WUBA) now have proper bases after consolidating for six weeks. That means they all have proper potential buy points.

Alibaba and messaging giant Tencent are archrivals, while JD.com is Alibaba's top competitor in e-commerce specifically. Tencent is JD.com's top investor as part of a strategic alliance. YY Inc. and 58.com both reported better-than-expected earnings last week, but gave weak guidance. JD.com also recently gave weak guidance.

Alibaba
Alibaba shares rose 6% last week to 190.55, retaking their 50-day moving average. The stock now has a 206.30 buy point.

However, Alibaba's relative strength line, which tracks the stock's performance vs. the S&P 500 index, has not made much headway in more than six months, and lagged gradually since late November. The RS line is the blue line in the charts below. . .

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https://www.investors.com/news/technology/alibaba-tencent-jd-com-lead-5-top-chinese-internets-that-just-carved-new-buy-points/?src=A00220&yptr=yahoo

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