BABA is mostly bullish with multiple successful formation exits in the past. Short-term likely to correct towards 200 suggest 7 out of 10 major indicators. The stock has too much empty space at the beginning of the current triangle (marked 'X'), which now requires a second leg. Breaking out above the triangle now would form a double-top crashing the stock later on (rather unlikely to happen). For now the most "healthy" performance is a quick drop towards said target.
Note that the stock's current 'weekly' and 'monthly' suggest a larger downward move towards 170 if 200 doesn't hold. Take a look:
WEEKLY:
MONTHLY:
ADX:
RSI:
Use 199.50 as your marker for a possible further correction (if it drops below).
This post will be updated continuously when mentionable changes can be observed.
Note that the stock's current 'weekly' and 'monthly' suggest a larger downward move towards 170 if 200 doesn't hold. Take a look:
WEEKLY:
MONTHLY:
ADX:
RSI:
Use 199.50 as your marker for a possible further correction (if it drops below).
This post will be updated continuously when mentionable changes can be observed.
코멘트:
UPDATE: Stock must break 226.70 today to remain bullish, else fall tomorrow as expected.
코멘트:
UPDATE: With today's daily candle I'd recommend insuring your position. BABA could jump above 230, but retains all negative indications.
코멘트:
UPDATE: BABA blew out ER with a 46% beat. As long as the stock doesn't 215.30 in next 3 trading days, it could jump towards ATH and beyond.
코멘트:
UPDATE: Here are a few ways the current triangle could break out or bust: