ALIBABA - Open Sesame for the Trend!Hello Trading Family, I found BABA chart interesting.
We can see that BABA is currently trading inside these two brown trendlines forming a rising broadening wedge.
And it is currently approaching a strong rejection/support area.
I call it "War Zone" , highlighted in Orange (circle).
The highlighted orange circle is a strong area to look for buy setups as it is the intersection of support in green 210.0 and the lower brown trendline acting as non-horizontal support. (trend-following setup)
As per my trading style/plan:
Short-term: As BABA approaches the orange circle (area), I will be looking for bullish reversal setups on lower timeframes (like a double bottom, trendline break , and so on...)
Long-term: I will be waiting for a third swing high to form around the upper blue trendline (projection in purple) for it to become valid then buy on this last swing high (gray area) break upward.
Always follow your trading plan regarding entry, risk management, and trade management.
Good Luck
All Strategies Are Good; If Managed Properly!
~Rich
Alibaba
LONG on NYSE:BABAAlibaba NYSE:BABA shows good potential for opening a LONG position.
Can be seen in the chart (W) how after a few red candles in previous weeks, the stock seems to be respecting the long-term support trendline. Moreover, a previous resistance (230USD) acted as support. For lowering the risk, we could wait for the MACD signal (at the expense of decreasing the potential reward).
Recommendation: LONG on NYSE:BABA, SL = 211USD, P.O. = 320USD
BABA Sells approaching TP 🎯Entry details are shown on the chart.
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The stats for this pair are shown below too.
Thank you.
Darren
$BABA | Double Bull Flag Breakout: Is The Correction Finished? $BABA formed a second bull flag after breaking out of a large descending channel. Watch for a bounce from the bull flag structure retest above $252.
If market weakness continues then we may see a deeper correction as low as $244 (lower blue zone) where we can look for alternative entries.
Initial target is $290 to fill the gap. Secondary is $302 based on structure. Invalidation below $240.
Let me know what you think in the comments and leave a like if you agree with my analysis! 👍🏽
Alibaba group Accurate forecastAt point 1 you will notice a nice correction pattern that signifies more upside. This is similar to what is happening now at point 2. That is why I expect after the correction at point 2 is completed the uptrend will continue. As the pattern develops i will keep this idea updated, so like, comment, follow so you don't miss any update. Thank you.
ALIBABA Long PositionALIBABA going on a trendline, forming an ascending triangle pattern
Macd and Stochastic showing reversal signs
This stock is considered very undervalued
Taking a rough road due to China-USA tensions, Covid-19 and later the disappearing Jack Ma
We will see probably a breakthrough the resistance level 270 heading to the 310 again.
(We can also see a break on the trendline and the stock falls to his support)
Lets see...
Alibaba appears to be recovering and I think it will continueAfter the Ant Group IPO cancellation caused Alibaba ( BABA ) price to drop for the last two months of last year, the price is apparently recovering this month to the levels where it was before Ant Group announced its plans to float on Shanghai and Hong Kong stock exchanges.
Price is recovering despite the Chinese government probe into Alibaba over alleged anti-competition practices.
Personally I don't think is in China's best interest to kill the goose that lays the golden eggs, so probably this year we'll see some regulation without major impact on Alibaba's business model.
This is all speculation based on news and reports I've been reading for the past month.
ALIBABA Best time to buyPattern: Bullish Megaphone on 1D.
Signal: Buy as the 1D MACD has formed a sequence that since November 2018 designated the bottom. Buy if the Jan 20 High breaks or on the 0.5 Fibonacci retracement level.
Target: 310 (just below the current Resistance).
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