$109 was the bottom? $BABA RSI hinting a breakout!
Hey Traders,
As evident on the Weekly Chart of Alibaba (BABA), the Fibonacci Retracement looks like it matches up almost perfectly! Next, the Weekly RSI has something very interesting.. A descending resistance line is clearly present and if we are to break it, BABA would have a rebound to the golden pocket. The target is at .618-.65 ($238-$246) so set TP's/ Sell Orders there.
Safe Trading,
-Pulkanator
As evident on the Weekly Chart of Alibaba (BABA), the Fibonacci Retracement looks like it matches up almost perfectly! Next, the Weekly RSI has something very interesting.. A descending resistance line is clearly present and if we are to break it, BABA would have a rebound to the golden pocket. The target is at .618-.65 ($238-$246) so set TP's/ Sell Orders there.
Safe Trading,
-Pulkanator