Alibaba - Finally The Trendline Breakout!
Updated
Alibaba (
BABA) finally broke above the bearish trendline:
Click chart above to see the detailed analysis👆🏻
Alibaba is breaking out and the breakout is not unexpected whatsoever. For a long time, Alibaba has been hugging the resistance trendline and finally managed to fulfil its destiny. This could very well be the bottom of the bear market and the start of something big: new all time highs.
Levels to watch: $115, $80
Keep your long term vision,
Philip (BasicTrading)
BABA) finally broke above the bearish trendline:Click chart above to see the detailed analysis👆🏻
Alibaba is breaking out and the breakout is not unexpected whatsoever. For a long time, Alibaba has been hugging the resistance trendline and finally managed to fulfil its destiny. This could very well be the bottom of the bear market and the start of something big: new all time highs.
Levels to watch: $115, $80
Keep your long term vision,
Philip (BasicTrading)
Trade active
Trading update on Alibaba (BABA):
Click chart above to see the detailed analysis👆🏻
Alibaba is up an incredible +28% this month after consolidating for almost three years. However, this agressive move was actually foreseeable, considering that Alibaba printed a bottom and broke above the trendline. There is still some more room towards the upside.
Levels to watch: $120
Keep your long term vision,
Philip (BasicTrading)
Trade closed: target reached
Trading update on Alibaba (BABA):
Click chart above to see the detailed analysis👆🏻
Is is absolutely unbelievable how fast this trade on Alibaba played out and Alibaba is actually almost at the target resistance level. Taking partials now is definitely smart, considering that a short term pullback might be likely after this quick rally of +60%.
Levels to watch: $120
Keep your long term vision,
Philip (BasicTrading)
Trade closed: target reached
Trading update on Alibaba (BABA):
Click chart above to see the detailed analysis👆🏻
This trade on Alibaba literally played out in just within a few days. This shows that sometimes even swing trades can also hit take profit immediately. After Alibaba now retested resistance, a pullback is likely, maybe all the way back to the trendline breakout level.
Levels to watch: $115, $80
Keep your long term vision,
Philip (BasicTrading)
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