BABA - Bullish BreakBABA has made a strong reversal
Broadening Wedge
I see this reversal continuing, letting price hit the middle dotted trend line and then forming a nice support above 0.5
Very cheap buy the dip scenario
9988/N trade ideas
BABA AnalysisPrice is on an uptrend. Price took liquidity and stop hunted the highs at 124.11. Price is unable to close higher. Price has been building sell-side liquidity on its way up. Expect price to retrace down to bullish POI.
Cup and HandleNot to long entry level.
BABA broke out of an almost chronic channel down, sometimes known as a regression channel.
Giant H&S pattern at the very top which seems to be many moons ago.
The 200 DMA continues to slope down, but the 20 crossed up through the 50 and the 50 looks to be trying to cross up through the 100.
Appears to be forming a cup and handle with a inverse H&S at the bottom of the possible cup pattern.
My fingers are crossed as it does seem BABA has a hard time catching a break )o:
No recommendation.
Earnings estimated on 8-25.
Harami cross noted that was bearish yet price opened above this pattern the next day which happens but is not the norm. Perhaps the after hours crowd just bought a bunch of BABA. Rejection candle today with long top wick.
Be safe and watch out for Mr. Market messing with your head )o:
#ALIBABA looking structurally bullishReally like the way Alibaba is bottoming here. Not only have we broken the steep downtrend which has held price down for the last year, but we have broken horizontal resistance at $120 while holding above a new daily uptrend line. Today is the first break above the 200dma since Feb 2021, which is another encouraging sign. Should we hold this breakout above $120 on the daily close today, next targets are $130 which was a major weekly pivot bottom from 2018. Further targets sits at 138.50 and then 161.
BABA getting tighter, building pressure for a moveSitting on this volume shelf around120 could trigger a move towards 155+, rejection could send us back 100ish
BABA is a thing of beauty!Nearing the D 200MA. It needs to break through and hold and I'm going to be adding to my positions. It got close 4 times in past couple of weeks.
WATCH $BABABullish
Fundamental
- Inflation Macro environment / fear sentiment
- Funds Accumulation
- Positive PE
- Negative PEG ( seems leaning towards a value stock )
- Positive P/FCF
- Weak Sector / Industry / not Leader
- Very competitive online retail market
Technical
- Momentum Theory Indicator - break out downtrend / bottomed out
- Price action formation ( falling wedge )
- Broke out downward trend line and retest
- Price above POC
- Price below major S/R level
- Huge volume spike!
- MACD divergence
Entry idea
- Entry idea was based on few confluences
- Price above major S/R level
- Price above fibo level
- Price above 200 MA
Stop loss set on previous low or POC level
" STEPS BY STEPS, BASE CAMP TO BASE CAMP. I WILL SUMMIT"
Cheers and happy trading!
Alibaba Group (BUY)Correction of the downtrend or resumption of an uptrend...
The breakout of the trendline and the RSI confirms us in the rise of the price in the weeks to come. Fibonacci retracements show us likely targets.
BABA Potential for bullish momentum | 1st July 2022On the H4, with prices moving above the ichimoku indicator, we have a bullish bias that price will rise to buy entry at 120.88 where the swing high resistance and 78.6% fibonacci retracement are. Once there is upside confirmation, we would expect bullish momentum to carry price to take profit at 139.07 in line with overlap resistance and 100% fibonacci projection. Alternatively, price could drop to stop loss at 104.01 where the pullback support, 38.2% fibonacci retracement and 78.6% fibonacci projection are.
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BABA respecting the diagonal trendlineSo far BABA is respecting the diagonal trendline and we've expected this retest. The short and midterm MA's are still in uptrend. BABA is approaching 200 MA, which will be crucial to break and continue higher. We'll most likely retest around there again. Fingers crossed. LT investors deserve some relief in this stock.
BABA nice rejection from resistance 🔴also still being held back by downtrend resistance on bigger timeframes, I'm pretty bearish on china plays now short term unless they start to break the resistance areas mentioned in recent analysis
downside targets are 110.53-105.11-99.69
$BABA uptrendBABA 10,20,50 MA curled up. It's holding nicely above 100MA and now has the last test to withhold - 200MA. Chinese stocks will probably lead the way in 2022. They bottomed a while ago.
Long BABAWaited quite a while. I think it's time. Long BABA. Nice double bottom off support on the weekly chart.
BABA Potential for bullish rise | 27th June 2022On the H4, with price moving above the ichimoku indicator and along the ascending trendline, we have a bullish bias that price will rise to our buy entry at 123,95 in line with the swing high resistance, 78.6% fibonacci retracement and 61.8% fibonacci projection to our take profit at 138.87 where the swing high resistance and 100% fibonacci projection are . Take note of intermediate resistance at 129.53 where the 78.6% fibonacci projection and swing high resistance are. Alternatively, price may drop for stop loss at 109.39 in line with the overlap support.
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, as general market commentary, and do not constitute investment advice. The market commentary has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and it is therefore not subject to any prohibition on dealing ahead of dissemination. Although this commentary is not produced by an independent source, FXCM takes all sufficient steps to eliminate or prevent any conflicts of interest arising out of the production and dissemination of this communication. The employees of FXCM commit to acting in the clients' best interests and represent their views without misleading, deceiving, or otherwise impairing the clients' ability to make informed investment decisions. For more information about the FXCM's internal organizational and administrative arrangements for the prevention of conflicts, please refer to the Firms' Managing Conflicts Policy. Please ensure that you read and understand our Full Disclaimer and Liability provision concerning the foregoing Information, which can be accessed on the website.
