BABA
The stock is trading inside a descending channel, and last Friday's candle with the increased volume showed a strong bounce from the 3.618 Fib extension. The Accumulation Distribution, MACD, and RSI all show bullish divergence, meaning accumulation is happening underneath while the price declined.
The weekly candle also printed a hammer candle, which means if the price can close above $70.50, it can see further gains.
Here are my upside targets:
$73
$76
$80
$85
Downside Risk:
$63
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