BABA: Set for a Bullish Reversal, Potential Gains Exceed 50%?

2024년 5월 19일

Hi Realistic Traders, let's delve into the technical analysis of BABA !

On the weekly chart, BABA is making some exciting moves! It's broken out of a falling wedge pattern, forming a bullish candlestick with a long wick right on the EMA 34 line. But what really caught our eye? The significant volume spike, more than double the average. Now, why does this matter? Well, it's a clear sign of increased buying interest and strong market conviction behind the price movement. And wait, there's more good news: the MACD indicator is showing a bullish divergence, hinting at a potential reversal. So, what's the forecast? We're looking at a potential upward swing to close the gap near our first target at $117.89. After that, we might see a slight dip to the yellow zone before it continues its rally towards our second target at $165.

It is essential to note that the analysis will no longer hold validity once the target/support area is reached.

Disclaimer: "Please note that this analysis is solely for educational purposes and should not be considered a recommendation to take a long or short position on Alibaba Group Holdings Ltd."

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2024년 5월 21일

노트

Waiting for the price exceed the yellow zone (nearest resistance area), It may indicates a continuation of upward movement

2024년 9월 29일

노트

The package of rate cuts and an 800 billion yuan ($114 billion) facility to fund stock purchases highlight Beijing's urgency to address deflation and the distressed property market in the world's second-biggest economy. This stimulus supports our bullish hypothesis for Alibaba (BABA), suggesting that our first target will be reached soon.