No signs of reversal to the upside

NYSE:BABA   Alibaba Group Holdings Ltd
49 0 2
What we recently saw in BABA was just an up leg that didn't have enough strength to break to the upside, So far we have had four weeks in a row with Lower Highs.
Bulls who rode the uptrend until 120 are still holding on hope ignited by the two uplegs we've had so far, which is a normal behavior, that uptrend was very good (80-120), reality today is that it has not going back, it has still a way to go before it touches the 0.5 Fib retracement around the 100 range and the 120 level seems farther with every drop.
There's no momentum to the upside, and the trend both short and long are pointing down, So any momentum to the downside means lower price levels, and any momentum to the upside means just it's applying the brakes
A sign of recovery would be to break the downtrend channel and to reach a closing price above 110-112. Anything else means either consolidation or downtrend.
Key levels: 110, 106, 103
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out