BABA- Completed Cup Or Resistance, Which Is It.
10-25 So, completed cup? Or a tag of resistance.
Which is it? How about both. Remember a breakout
of a cup and handle is a breakout of resistance
until it breaks out, its resistance. Given the near
vertical upside assault in the indexes last week,
that created a short term overbought condition
at the least, one is probably better served to look where support
zones are for a lower risk entry on a market pullback.
For that we look to the blue lines as they are support zones.
For educational and informational purposes only.
These are not recommendations, trade at YOUR own risk
Which is it? How about both. Remember a breakout
of a cup and handle is a breakout of resistance
until it breaks out, its resistance. Given the near
vertical upside assault in the indexes last week,
that created a short term overbought condition
at the least, one is probably better served to look where support
zones are for a lower risk entry on a market pullback.
For that we look to the blue lines as they are support zones.
For educational and informational purposes only.
These are not recommendations, trade at YOUR own risk