Simple Analysis (BABA) : Breakout of the resistanceHi guys, Since August 2018, the market has been below very signicafant resistance. In early jully 2020, the market broke finally this resistance and with force, we can expect a rise the days to come to 290 and even more... what do you things ?... FOLLOW ME and SHARE
Alibaba
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Alibaba - Baba Stock AnalysisThe Major trend is Bullish - The idea is to invest in the trend direction.
Wait the end of the price retracement before going long. Based on the Exponential Moving Average and and tentative trendline, the price might reach the level of 242 USD before starting a new rally.
Alibaba: Entering an expansion phase towards $400.BABA is currently consolidating on the 1D chart (RSI = 59.048, MACD = 6.230, ADX = 19.815) but the important news of the month is that it broke in July two very bullish long-term patterns (the blue Channel Up and the dashed Higher Highs trend-line since Jan 2018) to the upside.
This resembles the expansion phase that Alibaba had is 2017. If an identical +140% sequence is completed then it can make a new high around $400 by late 2020-early 2021. Our Target Zone when we'll start taking profits is 370.00 - 410.00.
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