2use

BABA - first chart

NYSE:BABA   Alibaba Group Holdings Ltd
124 1 0
I don't like to predict anything on recent IPO , so ill just draw some observations. Decided to base and add to the idea posted by fellow chartist bigrediska - doing some Fibs on the BABA shows a present relationship with 0.382 fibline. 2 bigger moves like that level a lot and i would subject an upwards trend from here - but if it goes up it is either 0.382 or 0.618 of FIB1 that it will halt at first. For now the trend is down as the price is below the high price.
Still under all 0.38 fibs
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