The break below key support (ORANGE) 76.29 points to lower levels in the days ahead.
This was a textbook example of a stock in a downtrend failing at resistance. It was a solid level to initiate shorts or even Short Call Spreads.
This was a textbook example of a stock in a downtrend failing at resistance. It was a solid level to initiate shorts or even Short Call Spreads.
Comment:
Still bearish. Today's break below 70.53 (GREEN) and possible close below ~62.33 (RED) makes it clear what the MARKET thinks about BABA. No rationalization or linguistic gymnastics can change the trend for now....which is down.