Alibaba Stock Analysis Using Gann Angles The angle ends on October 21 The expected reflection area is $150 - $130 Look for a bargain in these areas
Looking at the global chart of Alibaba Group shares, it appears that the 38% corrective fall is reaching its logical conclusion. During the fall, each renewal of the minimum was accompanied by a decrease in trading volumes, and the "Bullish Pennant" pattern is formed on the chart itself. The target for working out such a pattern is in the region of $265-285,...
BABA hurt me on that huge gap down but I am willing to take another shot here with a stop below 210. If this trendline break marks the bottom, the stock could head back to the 280 area. FXI has been strong and KWEB so the stock may have some tailwinds. Not sure about the Jack Ma situation but it might not matter.
TITLE/(DATE)- BUY BABA/USD ASSET- STOCK PLATFORM-MT4 ORDER TYPE- BUY Market Time Frame-4hr ENTRY PRICE 1- $267.50 ✅ market ENTRY 2- $265.50 (PENDING) STOP LOSS- $457.50 (100PIPs) TAKE PROFIT 1-$277.50 (100PIPS) TAKE PROFIT 2- $287.50 (200 PIPS) TAKE PROFIT 3- $297.50 (300 PIPS) TAKE PROFIT 4- $307.50 (400 PIPS) STATUS: 🏃🏽♂️ENTEY 1 ACTIVE 🏃🏽♂️