BABA BROKE A DOWNWARD TREND LINE AND HAS SOME UPSIDE ROOM TO RUN
The analysis shows a downward trend line that got broken along with a volume profile.
There is a huge horizontal volume support line at 84$/per share.
The lower support is 70$/per share.
The Resistant volume is 122$/per share.
The Price is still below the 200DayEMA and just above the 100DayEMA so this might go into a squeeze, meaning volatile price movements and possibly hold the100DayEMA.
My prediction is that it's going to at least move back up to a Price range around the 122$/per share mark.
It's worth keeping an eye on $$$$
There is a huge horizontal volume support line at 84$/per share.
The lower support is 70$/per share.
The Resistant volume is 122$/per share.
The Price is still below the 200DayEMA and just above the 100DayEMA so this might go into a squeeze, meaning volatile price movements and possibly hold the100DayEMA.
My prediction is that it's going to at least move back up to a Price range around the 122$/per share mark.
It's worth keeping an eye on $$$$