Alibaba seems to be mimicking itself in the runup to Trump 2016
This is just something I noticed the other day when 
BABA took off ... how crisply its price action has lined up with the last election, and how the uptrend seemed to start just a tad early, almost like the market knew in advance Trump would win that election.
This time, we've similarly put in a longer base, with a higher low, and also broken above 2 visible pivot highs once again. Why would this be a thing? IDK. And maybe it's not. It could lead to a head fake or something.
I don't have a position on it yet, but I will be watching this retrace and looking for an entry I recognize, and meanwhile I thought it was interesting enough to share.
-Josiah
Easycators.com/RelVol
X thread onBABA analog: https://x.com/easycators/status/1849073323142955417
BABA took off ... how crisply its price action has lined up with the last election, and how the uptrend seemed to start just a tad early, almost like the market knew in advance Trump would win that election.This time, we've similarly put in a longer base, with a higher low, and also broken above 2 visible pivot highs once again. Why would this be a thing? IDK. And maybe it's not. It could lead to a head fake or something.
I don't have a position on it yet, but I will be watching this retrace and looking for an entry I recognize, and meanwhile I thought it was interesting enough to share.
-Josiah
Easycators.com/RelVol
X thread on
BABA analog: https://x.com/easycators/status/1849073323142955417Trade active
I opened this position with a small starter purchase. I will add more if it dips to 94 and more at 83.25. Idea invalidated below 58. Will tighten up and size up after election as price action clarifies.Note
I believe BABA is in a short term holding pattern, oscillating between $96 and $103, building sell stop liquidity below $95, with the intent of harvesting that just before running back up toward the long term highs around $119 and potentially beyond. This is my current thesis. So I'll be adding to this position if it drops below $95 in the coming days.Note
Didn't get to add on a drop like I had wanted to before the runup to the highs. Peeling off a few shares up here to capture some short term profits, leaving the rest to see if this has legs to run over the long term.News has come out recently that several big names have accumulated
BABA while it was down here in this base, which explains the base! However, we could kind of already tell that just by looking at the chart... :)
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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.