Bullishcharts

$BABA Alibaba Capitulation Offers Opportunity

Largo
NYSE:BABA   Alibaba Group Holdings Ltd.

Monthly Chart
Thursday seen a capitulation within the stock, which gave us a nice
scalp off the supports identified.
The 2019 yearly candle in confluence with a rising trendline and 20ma on monthly held as support.
This may give us a reversal trade entry this week.
First target will be to the gap fill @ $229.90
which if breached open up a move back tot he 200ma @ $260 in the medium term.
Care is needed due to the increased regulatory issues.

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