BABA Drop and Pop
Thinking BABA will drop a bit to find support on RSI at either 46 or so or around 38. Around 44-48 has offered pretty good support/resistance in the past.
AD Line is a little off of trend and has been for a few sessions. Thinking we'll see a return to trend over the next few days or so and then more gains.
Symmetrical Triangle that started after the drop from Jan 13 on. Currently broken down out of triangle but we still have a few hours and tomorrow is Friday. $211 is possible over next few days/into next week before seeing a possible return to 230's. 50 EMA could offer the support needed to pop back as well, currently at around $213.
Check out that Bearish Engulfing daily candle we got going right now. Will have to close around $251.60's in order to lose that Engulfing.
AD Line is a little off of trend and has been for a few sessions. Thinking we'll see a return to trend over the next few days or so and then more gains.
Symmetrical Triangle that started after the drop from Jan 13 on. Currently broken down out of triangle but we still have a few hours and tomorrow is Friday. $211 is possible over next few days/into next week before seeing a possible return to 230's. 50 EMA could offer the support needed to pop back as well, currently at around $213.
Check out that Bearish Engulfing daily candle we got going right now. Will have to close around $251.60's in order to lose that Engulfing.
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