BABA wait for it
After gapping down on July 11 we see a steady down trend. Price recently closed under the (weekly) trend line and the .23 Fibonacci level.
On balance volume confirms the down trend, as does the Force Index. I am looking for a bounce off the 0 fib level or $94 which has acted as support on the monthly time frame.
I will consider adding to a long term position in the highlighted range.
On balance volume confirms the down trend, as does the Force Index. I am looking for a bounce off the 0 fib level or $94 which has acted as support on the monthly time frame.
I will consider adding to a long term position in the highlighted range.
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