LazyBear

BABA: Will support hold?

NYSE:BABA   ALIBABA GROUP HLDG LTD
1207 4 16
BABA made a new low. I had this zone as the buy zone a month back, I still think it is going to do something like that blue arrow. RSI being oversold on 3 timeframes is supportive of this, but price has to find a foothold quickly, especially with it breaking that long term RSI support level .

If this support breaks, this can go down to 68, imo             .

RSI MTF Pane is set to 1hr/4hr/6hr and 1D.
hard to say, maybe a triangle
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LazyBear PRO jangseohee
Incoming bounce (or lack of!) will tell us how fast this wants to go visit 68 :)
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+2 Reply
--- May 7 2015 ----

Woah...it gapped up to my tgt already (& I am not in position yet...fml!)

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Ultra bear
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