BABA Inverse Head and Shoulders?

Alibaba Group Holding LimitedNYSE

Description

⋅ Jun 17, 2021 9:32 PM

I think that this may be a inverse head and shoulders. Unsure. Waiting for a 4 hour chart close above neckline to confirm.

//Even though I've been buying puts on BABA I think that this might be seeing some KABOOM soon. It's in a year long wedge.

Comment

⋅ Jun 17, 2021 9:33 PM

Gimme feedback. I'm VERY new to this.

Comment

⋅ Jun 17, 2021 9:34 PM

dailypriceaction.com/forex-beginners/inverse-head-shoulders-pattern/

Will create a target from this article once confirm head and shoulders i guess lol

Comments

Mblowers

⋅ Jun 18, 2021 2:34 PM

Look at the stock on a higher time frame chart. BABA is close to breaking out oh a bearish pattern. Waiting for confirmation of the breakout before entering.

Mblowers

⋅ Jun 18, 2021 2:35 PM

@Mblowers, A daily close around $214 would be a step in the right direction

WackoLovesYou

⋅ Jun 18, 2021 3:40 PM

@Mblowers, okay.

WackoLovesYou

⋅ Jun 18, 2021 3:41 PM

@Mblowers, yeah this doesnt look like an inverse head and shoulders pattern anymore but heading in a very bullish way.

Mblowers

⋅ Jun 24, 2021 7:03 PM

@WackoLovesYou, The breakout has begun. Looking for a retest of prior resistance to scale up my position.