Alibaba #BABA NYSE:BABA
Alibaba's journey continues to be a roller coaster ride of highs and lows. Since our initial entry, we've navigated through Waves (v), (2), and Y. We acknowledge that a dip below this level would challenge our perspective, potentially signaling further downturns. Therefore, we've implemented a stop-loss just below this critical point....
BABA had a nice clean break through a descending wedge.
Support zone indicates where price momentarily reached and recovered.
Yellow Weekly support line indicates a strong support on a weekly time frame.
Small upside is possible.
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Could Alibaba be returning to its glory?
Although Alibaba (NYSE:BABA) reported decent earnings last month, the stock failed to...
NYSE:BABA is currently trading within a descending wedge pattern and fluctuating within a trading range of $72 to $78.
The critical support area lies between $72 to $70, and a breach below this level could potentially cause the stock to decline to the $63 area.
Conversely, if the stock manages to break out of the descending wedge by surpassing the $80...
Alibaba could have a double bottom formation soon. The stock is in oversold territory and the volume has reset immensely.
Michael Burry has been buying BABA in recent months as well. Worth checking this trade out.
Alibaba's AliExpress ( NYSE:BABA ) finds itself in the crosshairs of a European Commission probe following allegations of disseminating potentially illegal and pornographic materials. This investigation, conducted under the EU's Digital Services Act (DSA), marks the third such inquiry into tech platforms, signaling a heightened regulatory focus on online content...
NYSE:BABA Alibaba has the potential to break out above the neckline area, which is currently at $78.
It has already surpassed the POC (Point of Control) resistance and is now moving towards the neckline once again.
The targets mentioned in the Feb 9th post remain unchanged.
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A diamond pattern is formed on the Alibaba weekly chart. Diamonds get formed at times of trend reversal. Breakout from the diamond pattern will bring momentum to the stock. There are signs that the down channel is also getting broken. A trade can be taken now with a stop loss at 70.87. Possible upside targets are T1: 169, T2: 232 and T3: 334.
On Thursday we've exceeded the over 2 months old trading range, made a little correction and opened a win dow today. For me this are clear signs of a beginning rise . As we had built a broad bottom after a steep fall that had lasted for over 2 years there is a potential for some bigger rise.
