Alibaba (BABA) has been trading within a Channel Down since the July 31 2023 High. The 1D MA50 (blue trend-line) has been acting as the basic Resistance while a truly sustainable bullish trend can technically exist only above the 1D MA200 (orange trend-line).
Until then every 1D MA50 rejection such as December 28, is a Lower High on the Channel Down and a sell...
Chinese stocks have been hurting from China's deflationary economic environment, as well as the Biden administration's restrictive measures for AI chips to China. I believe these factors have caused Chinese stocks to become extremely undervalued.
BABA is currently within my buy zone and is starting to show some bullishness. The price is near the lows of the...
Here is a depiction of where BABA currently is relative to Market Structure. The WEEKLY has just confirmed a new weekly gap due the 4H's Gap above previous lower highs creating a HIGH. The current 4h chart closed in one of my most profitable patterns called the Inside Bar showing a consolidation after a powerful move to the upside representing a breather in the...
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...
Technical Analysis:
- As you can can see in the chart, Alibaba(BABA) is still correcting in short term wave V in red and it must be completed around $43 when we think smart buyers will appear
- If the price crosses the invalidation level around $121.30 it means that the correction is over or we can have a bounce in WXY Structure in wave IV which will extend more...
Alibaba Group Holdings (BABA) hit today its 1D MA50 (blue trend-line) for the first time since February 16. In the past year, every time the price closed a 1D candle above the 1D MA50, it soared to at least 120.00 which is the bottom of the 1 Year Resistance Zone.
This time the stock is past a 1D Golden Cross pattern, the first such formation March 18 2019, which...
