Alibaba - BABA
Weekly Chart (right side)
- Nice long-term downtrend since mid-February 2021
Daily Chart (left side)
- Gab mid-March 2022 showed a nice support which were tested end of April 2022
- Another gab in the last days is currently showing some support
- The 50-MA is currently a strong resistance
- The MACD is slightly improving and the RSI just jumped over the important level of 50
The long-term all-time low (not displayed) is at USD 57.20 and the 23.6% Fibonacci Retracement at USD 119.06 which marks a resistance, too
As the next earning report is expected on May 6 and the long-term trend is still bearish, I’m still not catching the falling knife.
- Nice long-term downtrend since mid-February 2021
Daily Chart (left side)
- Gab mid-March 2022 showed a nice support which were tested end of April 2022
- Another gab in the last days is currently showing some support
- The 50-MA is currently a strong resistance
- The MACD is slightly improving and the RSI just jumped over the important level of 50
The long-term all-time low (not displayed) is at USD 57.20 and the 23.6% Fibonacci Retracement at USD 119.06 which marks a resistance, too
As the next earning report is expected on May 6 and the long-term trend is still bearish, I’m still not catching the falling knife.
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