BABA has been in descending wedge and recently bottomed around 138 and bounced off of the lower trend line.
It has reclaimed the 177 resistance region. Now the question is can it break above the upper trend line around $188?
A break above $180 - $188 region, could send the stock to $230.
Target 1 - $188
Target 2 - $230
Target 3 - $260
Risk - unable to break above 180 - 188 and retract.
Everything rely on Xi and what he does. Overnight everything can change.
———————————————————
How to read my charts?
- Matching color trend lines shows the pattern. Sometimes a chart can have multiple patterns. Each pattern will have matching color trend lines.
- The yellow horizontal lines shows support and resistance areas.
- Fib lines also shows support and resistance areas.
- The dotted white lines shows price projection for breakout or breakdown target.
Disclaimer: Do your own DD. Not an investment advice.
It has reclaimed the 177 resistance region. Now the question is can it break above the upper trend line around $188?
A break above $180 - $188 region, could send the stock to $230.
Target 1 - $188
Target 2 - $230
Target 3 - $260
Risk - unable to break above 180 - 188 and retract.
Everything rely on Xi and what he does. Overnight everything can change.
———————————————————
How to read my charts?
- Matching color trend lines shows the pattern. Sometimes a chart can have multiple patterns. Each pattern will have matching color trend lines.
- The yellow horizontal lines shows support and resistance areas.
- Fib lines also shows support and resistance areas.
- The dotted white lines shows price projection for breakout or breakdown target.
Disclaimer: Do your own DD. Not an investment advice.
I am not a licensed professional. None of the posts that I published are investment advice. Do your own research.
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.
I am not a licensed professional. None of the posts that I published are investment advice. Do your own research.
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.