BABA A descending triangle is forming on the chart, with strong resistance around $118 and horizontal support near $102. The structure suggests a potential breakdown, targeting a move of ~−9.8%.
Key observations:
• Price rejected from the descending trendline multiple times
• Stochastic turning down from the overbought zone
• RSI below 50 – room for further downside
• Bollinger Bands show compression, possibly preceding a breakout
📉 Business context:
Alibaba is facing ongoing challenges in its core business. Competition in the e-commerce and cloud sectors has intensified, import/export tariffs are putting pressure on margins, and regulatory oversight from Chinese authorities remains strict. These headwinds may weigh on investor sentiment and stock performance.
My short scenario:
If the price breaks below the $111–$110 zone with volume confirmation, I expect a move toward $102–$100.
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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.