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Peet_Serfontein
Aug 21, 2019 7:36 AM

BABA: Alibaba Group Holding: Seeing signs of a bullish bias Long

Alibaba Group Holding LimitedNYSE

Description

Investing idea.
Improving proprietary bullish scoring over the last couple of days. Overall trend indication switched to moderate bullish.
A conflux of technical indicators supporting a bullish bias:
Crossing above its 8-week simple moving average.
Crossing above its 21-week simple moving average.
MACD bullish crossover.
Crossing above its MACD zero line.
Crossing above its 8-period linear trend line. Indication of internal strength developing within the share.
The increasing trajectory of OBV (on-balance volume) supports a bullish trend direction.
Time to exit: +/- 4 November 2019

Trade closed: stop reached

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