Wyckoffian Stock Analysis - BABA Possible Accumulation
Updated
It is obvious that BABA is oversold by now, looking at the news & Investors actions hints that there’s an interest in higher prices
If we look at the chart we can see that
1. Around the point marked as SC, we can see an extreme drop of Volume, that is very common when we enter a range
2. The volume started rising recently, around the point when the price broke down out of the range, that activity can hint us a Spring or a TS that will probably be followed by a price rise
We still need to wait for a spring test before we can be certain.
But for now my prediction is that a bullish trend awaits.
If we look at the chart we can see that
1. Around the point marked as SC, we can see an extreme drop of Volume, that is very common when we enter a range
2. The volume started rising recently, around the point when the price broke down out of the range, that activity can hint us a Spring or a TS that will probably be followed by a price rise
We still need to wait for a spring test before we can be certain.
But for now my prediction is that a bullish trend awaits.
Note
We know that an accumulation spring can be represented as a minor structure, that is exactly what’s happening on BABA right now, pre market has made a spring on the minor structure from which I expect to see a price rise.
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