Glhf
HODLers please look. This 1 week channel is done. Please reconsider you positions if you expecting a new moon. Cash is king right now. Deflation is upon us. See you next fall when the bear goes into hibernation.
ALIBABAthere are lots of things to consider.
Let's start with the price chart.
we had 2 down gap, not yet covered very well, plus the last one of 30th Nov.
considering the 200 ma, it's close, yet away $20.
then the ma 20 days, that took down the price 2 times, at $303 and $280, which is just on top of the price again at $270 (price now $266)
MACD
isn't really good looking now. 12 ma is crossing downturn the 26 ma, which is usually bearish, plus it's close to 0 in the bars.
talking about the RSI.
it's optimistic, since it says the price is going to be more bought, yet under 50% (ca 45%)
VOLUME
It's looking good. volume, since the spike when ALIBABA went down from $310, is lowering, which could mean the downtrend strength is lowering, so it can reverse.
yet the volume is not calm and has not been as low as during the upturn (just like from 270 to 310 in October).
I want to try to use a 1-10 (may scale it in future, just today's new idea), to rate the stock IMO
sooooooo, I'm going to give baba a 7. it's because fundamentally its good, china is a good place for this business right now, and the price is as low as 5 months ago. 1Y +32% ok? quite good.
the chart is not the best at the moment, but if ur not considering buying into it, u should at least check it daily to see if it hit 200 ma.
CAMELOT0707 RATE 03 December 2020 = 7/10
the weekly chart for a larger view.
hourly chart :D you never know
$TLSA GLHFI really want to short this but picking a top on the hottest bull market stock is asking for pain.
Roleplay of gametheory to fuck the market, Id say the scenario plays out that Friday the 21st is probably choppy that looks bearish, then Monday gap up to fuck all the shorts.
Short on HOD monday and GLHF try not to die.
Personally trying to balance not revenge trading this because I was too much of an idiot for not just buying and holding, so much to learn from this chart and why I missed.
Personally will review trades after this market cools a bit because too many mistakes were made.
