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BABA is testing 200 SMA
-BABA moves are explodes higher then cools then retest support then explodes higher than the last high. It's called trading with higher wavelength
-> Move 1: Started April 2024 when the trend reversal started. $68 -> $89 with around +30% then retraced $90 -> $72 ( -20% )
-> Move 2: July 2024, $72 -> $116 (+61%) then retraced $116 -> $80 ( -31% )
-> Move 3: Jan 2025, $80 -> $146 (+ 82.5%) then retraced $146 -> $108?? ( correction underway ) ~ -26% so far
-> Move 4: Likely from $100-105 to $180-200
BABA is testing 200 SMA -
BABA moves are explodes higher then cools then retest support then explodes higher than the last high. It's called trading with higher wavelength-> Move 1: Started April 2024 when the trend reversal started. $68 -> $89 with around +30% then retraced $90 -> $72 ( -20% )
-> Move 2: July 2024, $72 -> $116 (+61%) then retraced $116 -> $80 ( -31% )
-> Move 3: Jan 2025, $80 -> $146 (+ 82.5%) then retraced $146 -> $108?? ( correction underway ) ~ -26% so far
-> Move 4: Likely from $100-105 to $180-200
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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.