Bullishcharts

$BABA Alibaba Capitulation Offers Opportunity

Long
NYSE:BABA   Alibaba Group Holdings Ltd.

Monthly Chart
Thursday seen a capitulation within the stock, which gave us a nice
scalp off the supports identified.
The 2019 yearly candle in confluence with a rising trendline and 20ma on monthly held as support.
This may give us a reversal trade entry this week.
First target will be to the gap fill @ $229.90
which if breached open up a move back tot he 200ma @ $260 in the medium term.
Care is needed due to the increased regulatory issues.

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.