CryptoFundManager

BABA Alibaba accumulation area after the selloff

NYSE:BABA   Alibaba Group Holdings Ltd.
BABA will recover eventually, the fundamentals aren`t missing and the analyst consensus is still bullish .
On 11/4/2020 Raymond James Boosted Price Target Strong-Buy $320.00 ➝ $335.00

The indicators are now giving buy signals on the lower timeframes and still sell signals on the higher ones. We need more confirmations to consider a change in trend.

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Comments

Nice analisys! I think that due to the missed revenues baba will test daily support at 271,68
+1 Reply
@djdj_trader, you know that the selloff wasn`t because of the revenues, right?
+1 Reply
djdj_trader CryptoFundManager
@CryptoFundManager, sure, it was because of suspension of Ant's IPO.
+1 Reply
@djdj_trader, so at 271 would be a nice accumulation area.
+2 Reply
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