When downward and upward channel meet.

Hello, i already posted an alibaba TA some weeks ago. Here´s the updated one with tighter entry.

Alibaba is potentially forming an upward channel (red one) and a local downward channel (white) which are not yet confirmed until we bounce from the channel bottom.
As both bottoms cross each other very soon, i expect atleast a nice bounce for the leverage traders out there. --> risky, DYOR

But also for investors this may be the perfect entry to hold BABA longterm.
Entry: 148-162

DYOR and have a nice Day.

This is purely Technical Analysis, i did not research the fundamentals of BABA!

Please leave a like if you find this useful :)

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This is the Daily timeframe view.
We may retest median before going to my targets.

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it touched my upper buy zone =)

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for those of you waiting to enter at the lower range (for leverage for example), 150 is propably the absolute low according to my channels.
dyor.

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i personally didnt buy baba, but china´s A50 Index, which is currently also in a dip.
(less risky)

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when you ignore volume after BABA got first listed, we got the biggest volume on weekly timeframe ever. which confirms my bullish view on this.

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3rd biggest volume on daily today. expecting v shaped recovery, altho slow one doesnt get me sweaty as well. bottom should be in

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channel invalidated, watching out to maybe this to turn out as support, but honestly not sure whats going on now.