Alibaba Accumulation
Good day/night everyone, here we have possible accumulation on alibaba stock. Price broke long-term trendline and became oversold in march with increasing volume, furthermore on secondry test in phase A with dropping supply couldn't broke SC(support). The next bullish move in phase B started with strong demand and good spread and broke resistance.
In current bearish move that we close to the resistance with lowered volume can be the secondry test in phase B that can start an bullish move or a powerful and quick shakeout that wants to trap sellers and move up and at last my idea is that we are in a spring in phase C of Wyckoff accumulation.
Another important point is the fundamental analysis on this stock that correlate with technical, based on my valuation this company is undervalued with real value around 110$.
In current bearish move that we close to the resistance with lowered volume can be the secondry test in phase B that can start an bullish move or a powerful and quick shakeout that wants to trap sellers and move up and at last my idea is that we are in a spring in phase C of Wyckoff accumulation.
Another important point is the fundamental analysis on this stock that correlate with technical, based on my valuation this company is undervalued with real value around 110$.
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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.
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.