BABA
$BABA excelent buy opportunity in AlibabaHolding*Alibaba got it's retrace to technical 61,8 fib level due to investigations from china's govt toward $baba for monopolistic behaviours. This company's fundamentals are just awesome. Just research for yourself, will be amazed. 22% against 5% of amazon in revenue. This company is just exploding and has still much more space on it's way to do that.
BABA/ THOUGHTSThis stock looks really interesting because it looks like Facebook when they had all the problems with Cambridge Analytics and the Government. China is a tougher government and we don't know how the stock will react, several GAPS and rebounds with little activity give us a good environment for short selling. As I write this BABA is 2 percent down in after hours. The stock shows interesting and clear levels for traders whether they want to buy or sell. If I could take a position it'd be a short position having the 200SMA as my area to cut losses. NYSE:BABA
Why is BABA still Bullish?Good morning traders, today we want to show you our analysis in BABA and explain why we consider that this stock continues in a clear uptrend beyond the correction that it is going through the last weeks.
🔸As we can see in the weekly chart, this stock has consistently generated higher highs and lows from the bottom in 2015.
🔸One characteristic that these weekly corrections have is that the majority usually generate a decrease of more than 20%, and the current movement is not the exception.
🔸From historical highs, in November, the price made a downward movement of more than 30% towards the level it is currently at, which has generated a certain alert in many traders that had bullish positions.
🔸As we said previously, this series of highs and lows have not yet been penetrated downwards, so there is still the possibility that the price will find support in the area where it currently is, and that there is also the Ascending Trendline.
🔸It is an area where there will most likely be an interesting demand.
🔸Anyway, we always have to be careful and analyze all possible scenarios so that nothing takes us by surprise.
🔸In case the price manages to break the trendline, and the last low (support zone), we will consider that there may be a change in trend or a more pronounced correction. Until then, the scenario remains a healthy uptrend.
$BABA BULL Case - Bounce from $223-$218BULL CASE
Main Points:
1) MACD is crossing bullish
2) Equal legs target of wave A falls right where we bounced off, indicating the end of the 3-3-5 ABC correction
3) The uptrend from the Dec 24 low has retraced just above the 0.618 level indicating a wave 2 completion.
4) The next 3 projections (W3, W4 and W5) for this impulse wave land at previous resistance/support levels
Counter Points:
1) Stochastic RSI is close to overbought
2) Price is below the 200 MA and EMA
3) Ichimoku indicates red clouds ahead
Inference: $218 seems to be the key level to watch.
We can either bounce the 0.618 or fall and bounce from the 0.786 (more likely due to stoch RSI)
If we hold the 223 or 218, then we can confirm a wave 3 uptrend.
$BABA BEAR Case - Going to $200-$205BEAR CASE
Main Points:
1) Stoch RSI is nearing overbought
2) ABC correction = 3-3-5 Flat
3) 0.786 retracement of previous full wave = 201
4) Equal legs target of Wave A = Wave C = 214.50 (exceeded)
5) previous support level @ 203
6) confluence of previous support and fib resistance levels at 200-205
Inference: $BABA is in a downtrend wave 5 which will complete the ABC correction from Oct high of $318 to the 0.786 fib/previous support around 201-205
Counter Points:
1) MACD is moving bullish not bearish
2) RSI is is just crossing from oversold levels with lots of room to go
BABA Spike: Dead Cat Bounce?I've been watching NYSE:BABA over the past week as much hype has surrounded its recent fall. There has been a lot of bragging about profits made on the dip buy and if you've read my posts for long enough you know my cardinal rule, especially when it comes to options, is "if you're bragging, you should be taking profits!"
I'm not one to jump in just to be contrary but the stock price did exhibit a bearish spike at a major resistance this morning. This sets up a play back down to retest the recent low.
I did not like the Single options as they are volatility elevated so I went with a Vertical Put spread to express the trade.
lets go for 238,8 today at hangseng!todays aim is to hit and overtake 200 MA , my price target hit is 238,8.
the conflict between chinese govermnent and Ant group is getting reach a solution step by step
Possible short term rebound. Then $190 till Weekly 200 EMA.Updating my previous idea:
IMO it's possible to see a short-term rebound till $240 where the confluence of fib. retracement 0.5 (ATH to march '20 low) and fib. retracement 0.618 (ATH to dic '18 low) are.
Then, expecting more downside until aprox. $190 were the Weekly 200 EMA is. Just before the february earnings where trend reversal is possible if strong growth continue .
My last short Price Target was perfectly touched.
Thoughts?
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Stay safe.
Alibaba (BABA)BABA dropped about 30% since its highs back in October. With all the news going on, we think that the CCP will protect/defend BABA at all costs. As BABA approaches a support level, we think this offers an good entry point to build a position.
BABA trying to break resistance Will BABA break above resistance next few tries? Growing signs are showing. Higher lows baby!
Disclaimer: this is not financial advice.
#BABA - long
Rising wedge / Parallel Channel / Trend Line.
Strong support around $210
Hidden divergence is about to be confirmed.
Target: ~ $350
BABA LOOKS ATTRACTIVE AT THESE LEVELSBaba is now at 2018 levels and looks very attractive.
I'll focus only on Ichimoku weekly.
The tenkan and kijun are acting as support for the lagging span.
The price has reached the top of the cloud, which is acting as support.
Not a bad place to enter a long term trade, with a stop loss at the low of the day.
BABA Clear this one going back up very soon. Don't Miss Out IMOThis one filled the gap at $216.50 on Thursday last week. This is the gift that AMZN never gave us to get back in. If you're a seller or short seller here then I just can't talk sense with you. This thing is about to increase it's revenue growth a ridiculous amount with the new cloud storage business they are ramping up. The news cycle will inevitably change and die down and then they will start to ramp it up again. The ability to get this down here is a last chance type of deal in my opinion.
Happy hunting.
(I'm long with shares and calls)
Not trading advice.
LONG BABAExpecting bounce from extremely oversold weekly and daily levels. If stop breached, be prepared to catch new daily reversal on lower levels with a tight stop.
