Alibaba - This Chart Is Pretty Beautiful!

24 Feb

Alibaba (BABA) is perfectly respecting structure:



Click chart above to see the detailed analysis👆🏻

With a rally of about +80% within a couple of weeks, Alibaba is clearly showing signs of bulls completely taking over. This pressure was not unexpected though after we perfectly witnessed the major trendline breakout a couple of months ago and a retest of the confluence of support.

Levels to watch: $140, $110

Keep your long term vision,
Philip (BasicTrading)

4 Mac

Dagangan aktif

Trading update on Alibaba (BABA):



Click chart above to see the detailed analysis👆🏻

Slowly but surely Alibaba is also starting to reject the next major structure and overall just continues to basically respect every significant area. We can expect a drop of at least another -15% before Alibaba can then create another textbook bullish break and retest.

Levels to watch: $140, $110

Keep your long term vision,
Philip (BasicTrading)

10 Mac

Dagangan ditutup: sasaran tercapai

Trading update on Alibaba (BABA):



Click chart above to see the detailed analysis👆🏻

Volatility is always the first sign that we might actually see a short term shift in momentum. With Alibaba perfectly retesting a major resistance level and clearly faking out all short term traders, we can soon expect a corrective move lower and a retest of support.

Levels to watch: $140, $110

Keep your long term vision,
Philip (BasicTrading)