Tom_Killick
Short

BABA: Weak Action At Top Of The Range-Need To See Mean-#Alibaba

NYSE:BABA   ALIBABA GROUP HLDG LTD
274 15 11
Traders,

Seeing weakness in BABA here. We are sitting strongly at a obvious demand and resistance level , expecting a minor down move to the 50 break, retest and down continuation. This move could be the start of something larger, we will soon see.

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Yes, the last daily bar looks really bad, lack of follow through on that golden cross...no good.
+1 Reply
Yeah it's a junky cross. 20 only just evolved, and is likely to go sideways whilst it groups up, making a crap convergence more likely. Like in this case.

Tom
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Tom_Killick PRO Tom_Killick
200*
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IvanLabrie PRO Tom_Killick
Yes, also highest volume price is roughly 85...which rejected price, so massive order clusters around there, and they were sells.
+1 Reply
STRONGLY AGREE.
+1 Reply
Still within range to b/o to the upside
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The price action is a bit too bearish to be able to break but I'm still long. I'll get out if it doesn't go up asap.
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Everythings always in a range to break to any side. Trading is a bit ;like that.
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IvanLabrie PRO Tom_Killick
haha, yeah.
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IvanLabrie PRO IvanLabrie
And long is out.
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I think China goverment will tax the transaction of E-comercial soon to compensate the traditional industry soon. Because E-comercial is destroying financial income from traditional industry.
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Victor.Y.F PRO Victor.Y.F
I mean the new mode of consumer behaviours is deadly to all of those traditional industries. In western world too. It’s a constructional economic failing compare with old GDP data.
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IvanLabrie PRO Victor.Y.F
If this were to happen, many would take a major beating...specially BABA.
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Victor.Y.F PRO IvanLabrie
I agree wirh you, BABA could drop to 40- 50 for a good buying opportunity.
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i see a ascending triangle, prime to b/0 to the upside :D
Long baba
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