Alibaba (BABA) is completing today the first Golden Cross formation since January 23. This is a bullish medium-term pattern and along with the 1D RSI bullish trend on Higher Lows, it will most likely end with a Higher High on a 6 month basis.
As you see, the price recently broke above a Channel Up pattern, so we expect an aggressive rally to the Lower Highs trend-line, similar to those rises of January 2023 and June - July 2022. Our target is 116.00, even though there is potential for a direct hit within the 1 Year Resistance Zone.
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As you see, the price recently broke above a Channel Up pattern, so we expect an aggressive rally to the Lower Highs trend-line, similar to those rises of January 2023 and June - July 2022. Our target is 116.00, even though there is potential for a direct hit within the 1 Year Resistance Zone.
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** Please LIKE ๐, FOLLOW โ , SHARE ๐ and COMMENT โ if you enjoy this idea! Also share your ideas and charts in the comments section below! **
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๐ฐFree Channel t.me/tradingshotglobal
๐คตContact info@tradingshot.com t.me/tradingshot
๐ฅNew service: next X100 crypto GEMS!