🔸️Ticker Symbol: BABA 🔸️Timeframe: 4 Hour 🔸️Investment Strategy: Short
TECHNICAL ANALYSIS: BABA is currently in a bearish regression trend testing our top deviation level. This historically has acted as a strong level of resistance which has resulted in a push lower in the stock value. Our bottom dashboard indicator is also showing that our money momentum is extended into the top red sell section meaning a reversal could potentially occur anytime. For added confirmation I would like to see our middle band on the bottom dashboard turn from green meaning bull market momentum to red meaning bear market momentum before entering a position to the downside. Thanks for following!
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