Alibaba (
BABA) just rejected a major resistance:
Click chart above to see the detailed analysis👆🏻
A couple of days ago Alibaba stock perfectly retested a major previous resistance level after rallying +45% just within a couple of weeks. We can first see more bearish movement and maybe even a retest of the trendline breakout level before Alibaba will continue its overall uptrend.
Levels to watch: $80, $110
Keep your long term vision,
Philip (BasicTrading)
BABA) just rejected a major resistance:Click chart above to see the detailed analysis👆🏻
A couple of days ago Alibaba stock perfectly retested a major previous resistance level after rallying +45% just within a couple of weeks. We can first see more bearish movement and maybe even a retest of the trendline breakout level before Alibaba will continue its overall uptrend.
Levels to watch: $80, $110
Keep your long term vision,
Philip (BasicTrading)
Trade active
Trading update on Alibaba (BABA):Click chart above to see the detailed analysis👆🏻
Alibaba is still perfectly following the analysis, creating the correction away from the resistance after the unbelievable rally of +50% within a couple of days. We could actually still see another -15% before Alibaba will then reverse and continue its bullish trend reversal.
Levels to watch: $80, $110
Keep your long term vision,
Philip (BasicTrading)
Trade closed: target reached
Trading update on Alibaba (BABA):Click chart above to see the detailed analysis👆🏻
Just after Alibaba perfectly broke above the long term resistance trendline and rallied more than 70% within a couple of weeks, we saw the expected bearish rejection over the past couple of days. Market structure is clear and if you went short at the top, taking partials is definitely a very smart move.
Levels to watch: $80
Keep your long term vision,
Philip (BasicTrading)
Keep your long term vision!
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Keep your long term vision!
Free: Join our "Elite Trading" community👇🏻
discord.gg/jgdrYXwqyD
Free: Join our "Elite Trading" community👇🏻
discord.gg/jgdrYXwqyD
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.