Here is a nice 'hand drawn' chart of "Time at a Price" for BABA on the daily time frame.
There are 8 days at one price, the $90+/- level.
You can imagine $90 is either a balance point for a rally or a decline.
Tim
9/30/2014 3:34 PM EST 88.73 last BABA
Not much to go on with just a week of trading. From this view, price appears is headed to the center ML. The previous two encounters were won handily by the bears. If I were a bull, I would be cautious near this line.
I don't like to predict anything on recent IPO, so ill just draw some observations. Decided to base and add to the idea posted by fellow chartist bigrediska - doing some Fibs on the BABA shows a present relationship with 0.382 fibline. 2 bigger moves like that level a lot and i would subject an upwards trend from here - but if it goes up it is either 0.382 or...
ALIBABA TO rise today after 3 days of downswing. Long term tech prospects are good. And a good time to buy for short term investors too. Long term investors looking to invest for atleast one year can benefit 25% of the cost.
A strong company at core.
It really depends on what is your time horizon, but as noted last week 83-103 which one will come first? Open question as there is a little data analyze from here. Just make a visit to us www.2waytrading.com
