A lot of News driving this one unfortunately so difficult to guess what could happen, but fundamentally this is probably one of the most undervalued Enterprise companies out there. Right now it's right at the long term rising trend line support and it touched and bounced off of previous resistance now support around 220. Previous two times it bounced back after going under Weekly 40 SMA and hopefully it does the same this time. Possibly ABCD pattern play but needs to clear VWAP from gap down at around 230 preferably on heavy volume. Would be nice to see RS line straightening and turning upwards as well. Could spend some more time at this support for RSI to hit Oversold area.
This is not an investment advice!!! I'm a beginner investor still learning! I like charts and charting so if you have any feedback I would appreciate it. Please keep polite and no sarcasm. Constructive criticism is more than welcome!
Traders of $BABA good luck!
This is not an investment advice!!! I'm a beginner investor still learning! I like charts and charting so if you have any feedback I would appreciate it. Please keep polite and no sarcasm. Constructive criticism is more than welcome!
Traders of $BABA good luck!