ULTA had the last stand, amongst global markets heading south. But today ULTA was thrown off track. I've been stalking ULTA from 2016. Two years? No problem. Why? Because it was a risky one to go long for the last two years - and I didn't have the financial muscle to take it on. But in the last couple few days I saw a weakening of momentum, and made that judgement...
The exchange rate reached close to the correction level of 135 usd. The first rising wave structure is expected to reach 160 usd, and then a correction is probable to 149 usd levels. Then we predict the second rising wave structure to the level of 190 usd. At this level we expect a longer sideways motion. With two values between 167-189 usd. Then we are waiting...
The exchange rate ended the second wave of a triple downward wave structure. We are now waiting for a short correction. The peak of the correction wave may be around 180 usd. Then the third and last decreasing wave is expected to be created. Its target price is 153 usd level environments. Next we assume a very stable and long-term rising section. Its target price...
There is an uptrend on the purple rectangle, all the moving averages are on upward and those of less periods are above of the others.
The yellow rectangle indicates a range. The MAs are constantly crossing each other.
A cross of the price or a MA above or under another MA signal a movement up or down respectively.
The price above 200 MA, indicating a growing trend.
The MACD histogram is above the zero line.
The oscillator Force Index is above the zero line.
If the level of resistance is broken, you should follow recommendations below:
• Timeframe: H4
• Recommendation: Long Position
• Entry Level: Long Position 208.00
• Take Profit Level: 210.00 (200 pips)
If the price...
Is it too late to buy Alibaba shares? The technical picture shows that there is still an increase potential. It is assumed that the exchange rate rises again from the correction distance of 140-147 usd and is at a relatively high speed at the target price at 182.39. A 25% profit on a successful entry and target price.
Chart showing BABA/AMZN over the last few years. BABA is breaking out from multi-year lows. I think this pair continues to perform as BABA's growth accelerates and Amazon gets beaten down with it's high valuation and reliance on the Western consumer.