LOOKS LIKE THIS IS DUE FOR A PULLBACK.
NEGATIVE DIVERGENCE ON RSI AND BEARISH SHOOTING STAR CANDLESICK OBSERVED.
STOCHASTIC INDICATOR LOOKS TO HAVE TOPPED OUT AND READY FOR A SIGNIFICANT BEARISH CROSSOVER.
EXPECTING THIS TO TOUCH CLOSE TO 61.8% FIB RETRACEMENT LEVEL.
PT IS SLIGHTLY ABOVE 61.8% LEVEL AND SL SLIGHTLY ABOVE ATH.
SOME PROFIT TAKING COULD BE...
It is clear that BABA is greatly undervalued at this level and that regulatory impact to its revenue is likely to be immaterial.
Attractive Forward P/E of 16.72 and 22.55% profit margin!
Found support at 1.618 Fibonacci extension. This was calculate based on the impulsive downward move (319.32 to 252.55) that broke the uptrend.
Currently outside lower...
The rally that started in late March reached a peak of 319.32 in late October. This was followed by a pullback slightly below the 38.2 Fibonacci retracement level to 252.55. The stock was able to bounce back to the 38.2 Fib retracement level (on the recent downward move) only to fall back again and settle right below the 20 SMA. I believe that the stock will see...
TSLA has seen quite the run this year and is up close to 40% this month alone. There has been a lot of positive news pumping the stock despite
fundamentals being a little lackluster. Buyers are starting to show signs of exhaustion and we should see a pullback as profit taking kicks in.
The daily candlesticks have been outside the upper Bollinger Band for more...
AFTER THE BIG IMPULSIVE DOWNWARD MOVE WE SAW A BOUNCE TO THE 38.2 RETRACEMENT LEVEL (ON DOWNWARD MOVE).
THE BULL REGROUPED AND ARE NOW ON THE WAY TO TEST 293 OR THE 61.8 RETRACEMENT LEVEL (ON DOWNWARD MOVE).
CONSIDERING THIS TO HAVE BOTTOMED AT 218, A NEW UPTREND IS APPARENT BUT PAUSED AND FOUND SUPPORT AT 23.6 RETRACEMENT LEVEL (ON NEW UPTREND).
PRICE TARGET...
