Alibaba - This Is Really Just The Beginning!
Alibaba (
BABA) is starting to create a bullish reversal:
Click chart above to see the detailed analysis👆🏻
After perfectly rejecting a major resistance level just three months ago, Alibaba now retested the previous trendline breakout area and bulls are immediately stepping in. If we actually see a break above the neckline of this bottom formation, we could even see new all time highs.
Levels to watch: $80, $115
Keep your long term vision,
Philip (BasicTrading)
BABA) is starting to create a bullish reversal:Click chart above to see the detailed analysis👆🏻
After perfectly rejecting a major resistance level just three months ago, Alibaba now retested the previous trendline breakout area and bulls are immediately stepping in. If we actually see a break above the neckline of this bottom formation, we could even see new all time highs.
Levels to watch: $80, $115
Keep your long term vision,
Philip (BasicTrading)
Trade active
Trading update on Alibaba (BABA):
Click chart above to see the detailed analysis👆🏻
Exactly right now, Alibaba is approaching the previous confluence of resistance which is now turned massive support. Bears are still totally in control of all Chinese stocks, but if the bearish momentum slows down on Alibaba and Alibaba creates bullish confirmation, we will see another parabolic rally.
Levels to watch: $80, $115
Keep your long term vision,
Philip (BasicTrading)
Trade closed: target reached
Trading update on Alibaba (BABA):
Click chart above to see the detailed analysis👆🏻
Finally Alibaba is pretty close to retesting the previous breakout level which is now turned strong support. After bullish confirmation on the smaller timeframes, it is quite likely that we will see a move back up to the previous swing highs - maybe even a bullish bottom formation.
Levels to watch: $80, $115
Keep your long term vision,
Philip (BasicTrading)
Keep your long term vision.
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Trading newsletter👇🏻
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Keep your long term vision.
Trading newsletter👇🏻
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Trading newsletter👇🏻
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