BABA is mostly bullish with multiple successful formation exits in the past. Short-term likely to correct towards 200 suggest 7 out of 10 major indicators. The stock has too much empty space at the beginning of the current triangle (marked 'X'), which now requires a second leg. Breaking out above the triangle now would form a double-top crashing the stock later on (rather unlikely to happen). For now the most "healthy" performance is a quick drop towards said target.
Note that the stock's current 'weekly' and 'monthly' suggest a larger downward move towards 170 if 200 doesn't hold. Take a look:
WEEKLY:
MONTHLY:
ADX:
RSI:
Use 199.50 as your marker for a possible further correction (if it drops below).
This post will be updated continuously when mentionable changes can be observed.
Note that the stock's current 'weekly' and 'monthly' suggest a larger downward move towards 170 if 200 doesn't hold. Take a look:
WEEKLY:
MONTHLY:
ADX:
RSI:
Use 199.50 as your marker for a possible further correction (if it drops below).
This post will be updated continuously when mentionable changes can be observed.
Nota
UPDATE: Stock must break 226.70 today to remain bullish, else fall tomorrow as expected.Nota
UPDATE: With today's daily candle I'd recommend insuring your position. BABA could jump above 230, but retains all negative indications.Nota
UPDATE: BABA blew out ER with a 46% beat. As long as the stock doesn't 215.30 in next 3 trading days, it could jump towards ATH and beyond.Nota
UPDATE: Here are a few ways the current triangle could break out or bust:
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.