Alibaba has been on a near 3 year consolidation of doing pretty much nothing. In 2018 it dropped 33% after hitting ~211 and has been choppy ever since. We are now getting signals that the trend will commence.
If we zoom in a bit on the daily here's what we see:
Do you see any Chinese stocks that are getting your attention? Pls post in the comments below. Thanks.
If we zoom in a bit on the daily here's what we see:
Do you see any Chinese stocks that are getting your attention? Pls post in the comments below. Thanks.
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Alibaba's been coiling between 245 - 265. I am looking for one leg higher from here
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breaking out
交易结束：到达目标:
target hit today, still long some. Watch 325 for a possible top formation
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coming close to the top channel trendline. May cause short term sell pressure. Eventually I think baba breaks above this channel
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BABA got right back into the June 2020 breakout zone of 220. I'll be monitoring it for a long between 195 - 215. I'm in no rush to buy as I think it needs some time to bottom out: