2022-12-16 • Updated
Alibaba’s affiliate Ant company may become the largest IPO not only now, but also in the entire history. Let’s discuss what it may mean for traders.
Jack Ma founded both Ant Group and Alibaba, the latter has a 33% stake in the fintech firm. Ant Group, or, as it is sometimes called, Alibaba’s fintech arm, is China’s leading mobile payments company. Notably, Ant’s main payments service, Alipay, has 900 million users in China and over 1 billion worldwide. Unlike the rest of the world, just a small part of the Chinese population uses credit cards. Instead of that, they prefer app-based payments. Here’s the most interesting thing: once people download Alipay, Ant will offer them other products and services - both financial and non-financial. It is an online mall providing anything from loans and travel services to delivery services. Therefore, people got used to the whole ecosystem and will unlikely change it in the future. Therein lies the uniqueness and success of this company.
All this fuss is because Ant Group is preparing to list shares simultaneously in Hong Kong and Shanghai. The dual listing may drive the company even above Saudi Aramco’s record of 29 billion dollars IPO. Analysts widely expect that the firm will reach a value of 225 billion dollars, if it really raises 30 billion dollars in the listing on the Hong Kong stock exchange and Shanghai’s Star market. Ant is growing quite fast. It announced a revenue of 17 billion dollars last year, that is a 40% increase from 2018 levels. Let’s look at the charts.
Alibaba has risen significantly in 2020. The coming announcement may drive the stock even higher. If it breaks out the $280 mark, it will open doors towards the key psychological level of $300. Otherwise, if it falls below the support of $270, it may dip down to the next one at $260.
Crude oil futures surged on Monday due to disruptions in Russian refining capacity caused by Ukrainian drone strikes and Moscow's decision to cut output to comply with OPEC+ targets. The West Texas Intermediate (WTI) contract for May settled at $81.95 a barrel, up $1.32, while the Brent contract for May settled at $86.57 a barrel, also up $1.32. Russia instructed...
Brent oil is currently on a bullish trend, facing resistance near $84 and supported by the 200-day EMA. Breaking above this level could lead to a climb towards $90. Short-term support is observed around $80, backed by the 50-day EMA. As summer approaches and travel increases, crude oil tends to benefit from seasonal patterns. Despite temporary setbacks, buying...
Bearish Scenario: Sales below 80.00 with TP1: 79.34, TP2: 78.94, TP3: 78.55, and 78.00 Bullish Scenario: Buys above 78.00 (wait for a retracement to the zone) with TP: 79.34 TP2: 80.00, and TP3: 81.00
Jerome H. Powell, the Federal Reserve chair, stated that the central bank can afford to be patient in deciding when to cut interest rates, citing easing inflation and stable economic growth. Powell emphasized the Fed's independence from political influences, particularly relevant as the election season nears. The Fed had raised interest rates to 5.3 ...
Hello again my friends, it’s time for another episode of “What to Trade,” this time, for the month of April. As usual, I present to you some of my most anticipated trade ideas for the month of April, according to my technical analysis style. I therefore encourage you to do your due diligence, as always, and manage your risks appropriately.
Bearish scenario: Sell below 1.0820 / 1.0841... Bullish scenario: Buy above 1.0827...
FBS maintains a record of your data to run this website. By pressing the “Accept” button, you agree to our Privacy policy.
Your request is accepted.
A manager will call you shortly.
Next callback request for this phone number
will be available in
If you have an urgent issue please contact us via
Live chat
Internal error. Please try again later
Don’t waste your time – keep track of how NFP affects the US dollar and profit!
|
