BABA Testing MA200 since Feb21

The Last time BABA touch MA200 was in 22 Feb 2021. Since then, BABA has been trending downwards below MA200 line, struggling to even surpass the ichimoku cloud and the downwards channel

Some Positive Signs of Reversal
-break above parallel channel
-Candlestick interact with MA 200
-Candlestick went above ichimoku cloud during june-july 2022
-Higher high(HH) formed
-Higher Low(HL2) seems to retrace lesser than HL
-Lagging span went above candlesticks(currently within the clouds)
-High trading volume at 73.39(speculative support)

Currently BABA still in bearish mode
-moving under MA200 and underneath ichimoku cloud

Some Strategies:
Conservative: Wait for candlestick to go above both MA200 & ichimoku and enter during retracement. Stop loss 5-10% below 73. More Margin of Safety & Lesser Future Gain

More Aggressive: Enter now(on the lower part of black parallel channel). Set TP at 136 or Expected uptrend of 1:1 of Line B from HL2. Stop loss 5-10% below 73. Lesser Margin of Safety & More Future Gain

#ALIBABA #BABA