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
Tom_Killick IvanLabrie
a year ago
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
Reply
Tom_Killick Tom_Killick
a year ago
200*
Reply
IvanLabrie PRO Tom_Killick
a year ago
Yes, also highest volume price is roughly 85...which rejected price, so massive order clusters around there, and they were sells.
+1 Reply
Tom_Killick IvanLabrie
a year ago
STRONGLY AGREE.
+1 Reply
ChimbOt PRO
a year ago
Still within range to b/o to the upside
Reply
IvanLabrie PRO ChimbOt
a year ago
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.
Reply
Tom_Killick ChimbOt
a year ago
Everythings always in a range to break to any side. Trading is a bit ;like that.
Reply
IvanLabrie PRO Tom_Killick
a year ago
haha, yeah.
Reply
IvanLabrie PRO IvanLabrie
a year ago
And long is out.
Reply
Victor.Y.F
a year ago
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.
Reply
Victor.Y.F Victor.Y.F
a year ago
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.
Reply
IvanLabrie PRO Victor.Y.F
a year ago
If this were to happen, many would take a major beating...specially BABA.
Reply
Victor.Y.F IvanLabrie
a year ago
I agree wirh you, BABA could drop to 40- 50 for a good buying opportunity.
Reply
ChimbOt PRO
a year ago
i see a ascending triangle, prime to b/0 to the upside :D
Long baba
Reply
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