Alibaba: Entering an expansion phase towards $400.

NYSE:BABA   Alibaba Group Holdings Ltd.
BABA is currently consolidating on the 1D chart ( RSI = 59.048, MACD = 6.230, ADX = 19.815) but the important news of the month is that it broke in July two very bullish long-term patterns (the blue Channel Up and the dashed Higher Highs trend-line since Jan 2018) to the upside.

This resembles the expansion phase that Alibaba had is 2017. If an identical +140% sequence is completed then it can make a new high around $400 by late 2020-early 2021. Our Target Zone when we'll start taking profits is 370.00 - 410.00.

** If you like our free content follow our profile to get more daily ideas. **

Comments and likes are greatly appreciated.
High quality portfolio management, asset allocation with excellent risk management. Grow your account, achieve steady profit levels and increase your trading edge with InvestingScope (


Home Stock Screener Forex Screener Crypto Screener Economic Calendar About Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter