Alibaba Group Holdings Ltd.Updated Tripple Top : Alibaba (Hold)
Alibaba fail to rally further above 190 for the third time - Tripple Top.
Doji formed at the peak around 190 with Oscillator oversold.
Based on Fibo, price is expected to pullback to 179-184 region to test EMA20 (support) where it can be potential buy area.
Doji formed at the peak around 190 with Oscillator oversold.
Based on Fibo, price is expected to pullback to 179-184 region to test EMA20 (support) where it can be potential buy area.
Note
Update : Spot on. Apparently, the price drop to around Fibo 0.618 or $180 after fail to break double top.. Looking at overall chart, The price has achieve 100% above rounding bottom patterns (ie. $60 -> $120 -> $180). Looks like $180 is very important resistance turned support line..
Further buy above $192 where price break triple top...
Trade closed: target reached
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Contact me to learn Turtle Trading System, MCDX and other indicators (t.me/SgxFx)
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tradingview.com/script/viAR3Ilo-Trend-Sign
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.