Everyone is in shock of how BABA is collapsing these days. The selling volume seem to be maxed out for this drop as is evident in RSI. There is a high change of testing 12 MA around 170 in the following week. But the bear market is not over yet. After next week's dead-cat-bounce, BABA should keep dropping till it hits 130 in the upcoming months. From there, there could be another bounce or even a reversal fueled by their earnings.
Comment:
Spot on!
Trade closed: target reached:
First target was almost reached. Let's see if we are going back inside the green box now or heading back to the red box.
Comment:
Second target is very close. 3-5% to go!
