Is BABA still bearish?
Updated
Let's first review the facts:
1- Moving in a Downward channel for more than 400 days!
2- Rejection from EMA50 today
3- Option wall data: 100-130 in the next 4 weeks!
I think it is very unlikely to see BABA out of the bearish channel soon!
These types of moves are the result of mean reversion traders!
Best,
Moshkelgosha
DISCLAIMER
I’m not a certified financial planner/advisor, a certified financial analyst, an economist, a CPA, an accountant, or a lawyer. I’m not a finance professional through formal education. The contents on this site are for informational purposes only and do not constitute financial, accounting, or legal advice. I can’t promise that the information shared on my posts is appropriate for you or anyone else. By using this site, you agree to hold me harmless from any ramifications, financial or otherwise, that occur to you as a result of acting on information found on this site.
*You can see the most important support (green lines) and resistance (red lines) to watch in the coming days in these charts!(Based on Option wall data)
**Yellow line Shows Maximum Pain level.
***You can see more details and educational materials by reviewing the previous posts!
1- Moving in a Downward channel for more than 400 days!
2- Rejection from EMA50 today
3- Option wall data: 100-130 in the next 4 weeks!
I think it is very unlikely to see BABA out of the bearish channel soon!
These types of moves are the result of mean reversion traders!
Best,
Moshkelgosha
DISCLAIMER
I’m not a certified financial planner/advisor, a certified financial analyst, an economist, a CPA, an accountant, or a lawyer. I’m not a finance professional through formal education. The contents on this site are for informational purposes only and do not constitute financial, accounting, or legal advice. I can’t promise that the information shared on my posts is appropriate for you or anyone else. By using this site, you agree to hold me harmless from any ramifications, financial or otherwise, that occur to you as a result of acting on information found on this site.
*You can see the most important support (green lines) and resistance (red lines) to watch in the coming days in these charts!(Based on Option wall data)
**Yellow line Shows Maximum Pain level.
***You can see more details and educational materials by reviewing the previous posts!
Trade closed: target reached
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