There's a big support sitting at $232. I would trim some profits now and let the rest ride.
NYSE:BABA Short Below 236.60 area with first price target at the support line. This is a GAP play, but ER is right around the corner so be very careful. We are also in this this pennant/wedge and if we break above this wedge, we could see a bullish trend continuation and a possible ER Run.
BABA is about to break above the upside confirmation, and more upside could be seen from there!
A clear breakout from descending trendline confirms the upside ! More upside but try to get a good entry point!
BABA is still under resistance $269. Wait for the triangle BREAKTHROUGH and SELL—TP around $246. If we go higher, BUY above $270 with a retest. LEVELS BUY: $244 $227 $217 STRONG BUY
This stock looks really interesting because it looks like Facebook when they had all the problems with Cambridge Analytics and the Government. China is a tougher government and we don't know how the stock will react, several GAPS and rebounds with little activity give us a good environment for short selling. As I write this BABA is 2 percent down in after hours....
BABA is still under bearish trend, more downside !
BABA Stock Forecast January 2021 / think to sell BABA Stock Now
As the investigation on BABA is still on, the worries is keeping a cap on $baba share price. But technically, BABA is lacking a major pullback to the resistance and this could be a good opportunity to short from .
BABA's breakout of the bearish triangle turns out to be fake out, now price is back below the trendline. With EMA also showing more pressure, the general downside trend is not changed !
Alibaba breaking above the descending trendline, more upside! MACD is also showing support for more room towards previous swing high.
Alibaba, weekly timeframe: Resistance zone + Shooting Star + Side of Bollinger bands + Divergence
Catalyst "Chinese company and US conflict."
looking at the 170 area but most likely will close out my puts long before then
I think that the pandemic disaster we are in will continue for a long time and there will be a collapse in the markets on a global scale, in this context, I expect a structure in the stock as I stated in the chart.. The pattern I draw in the chart can be seen in many stocks, I think the second wave of sales will be more devastating, we will wait and see.. ...
I am expecting to see a double top form around the 08 area and ill take my proffits then Ill likely go short first target down lower at 79.66 2nd target lower @ 74.15 what are your thoughts?
First off, please don't take anything I say seriously or as financial advice. As always, this is on opinion basis. That being said, let me get into a few key points. Doing head and shoulders for recent correlation waves, I think a reasonable short target given the current $194.19 price for Alibaba -2.94% down, (mostly bearish quarter), it is still quite...