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tristan.rhodes
Dec 2, 2015 3:14 AM

BABA: Potential Inverse Head and Shoulders Long

Alibaba Group Holding LimitedNYSE

Description

This is a little early of an entry, but the BABA chart looks similar to ANF which is a little farther along (the neckline has already been broken).

There is a good possibility that BABA will bounce down from the neckline, but it shouldn't go lower than the Right Shoulder. A more conservative entry would wait for the neckline to break before entering long.

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