Today we've seen a fakeout of the ascending triangle formed since Jan 14, but IMO we have the fundamentals to break the triangle and reach this target where, by the way, there is a confluence with the 1.618 at $301.8.
I am more and more certain that BABA will reach $350 this year.
Don't forget that our opinions could be biased by our experiences and feelings. Manage properly your risk. Not a financial advice.
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We can continue lengthening the triangle. (02/18/2021)
Macd looking like it'll reverse. Not all ascending triangle push to the upside. Will be watching to see if it build support above that 268.
HumanBias
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@dbinmoney yes, not all the ascendings but do you think BABA will go down with their last results and their recent news? I can see perfectly MACD continuing going up! Look at the weekly. This are just my opinions! Trade safe and make your due diligence. Thank you so much for your comment.
diazipa
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Do we break that triangle tomorrow or next week?
HumanBias
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@diazipa today is the Chinese New Year and the Hong Kong market is closed. On top of that, the weeks before is normal to see less trading volume and some people cashing back. I think there are more chances of going up strongly the next week. Although, the American market could also lead the rise.