BABA
BABA 4H Technical AnalysisNYSE:BABA
Short Below 236.60 area with first price target at the support line.
This is a GAP play, but ER is right around the corner so be very careful. We are also in this this pennant/wedge and if we break above this wedge, we could see a bullish trend continuation and a possible ER Run.
BABA aka ALIBABA IdeaGday Guys...
Let's check again this pair. Kindly, refer to my previous projection 22 March 2020.
As expected, this pair moving based on previous analysis. And today am expecting positive movement of this pair.
Which is continue higher which is it's was in the minor Demand Zone. As i didn't read much with this company news, but based on the human behavior and technical analysis we can project
next move of any pair.
Let's see what happen next.. Cheers.
BABA Long + Very Bullish pre & post covid, even more so post pandemic as an increase in online businesses and sales as a result of distancing etc + Regulatory fine may create opportunity for a long term entry
- Slightly unknown consequences from stricter Chinese regulation , how will future regs impact price - Incoming Fines effect on stock price.
Looking for upside after China slaps BABA with huge fine China slaps Alibaba with $2.8 billion fine in anti-monopoly probe. I will take this as good news as least we know, its consider like end of trouble for Alibaba.
Good to nimble at 100W MA. Break below 200W MA not a good sign. (Price below $200)