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Jakh_FX
Apr 24, 2024 3:09 PM

BABA Puts Short

Alibaba Group Holding LimitedNYSE

Description

Expecting a strong rejection at $74-$75 supply area with the price retracing to $71.

The supply area proved hard to break out from on multiple occasions before.

Comment

Demand zones $72.7 and $70.7 still remain active for the coming fall
Comments
RIckAshby
Looks like it’s going to break to the upside to me.

Multiple attempts around this level.

They have released news over the last few days of partnerships with Apple & Lenovo which sound very promising.

Price action has been strong, share price has risen for the last five days, may pullback a bit from hear but will break strongly.

Everyone sees it differently, that’s what makes a market.
Jakh_FX
@RIckAshby, Yes apparently the analysis was a bit rushed, but it still remains true imo
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