With monthly - weekly - daily momentum all in oversold territory, BABA is currently sitting just above a crucial support on the weekly chart.
I will be expecting a bounce and spending some time in the highlighted area for a while..
I'm on the long side as it has more probability in my point of view and last weeks close was a gravestone doji. I think we are finding the bottom finally to neutralize the trend.
Peace..
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going for a relief bounce here immediately. I wasnt expecting to get out of the area that fast :) oh well its all good that was a good bottom call
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it will enter the range trade for now, hit the resistance and now time to build a range
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daily candles showing consolidation for the time being
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consolidation after that on neck top pattern, and no sign of strength so far