$BABA | Double Bull Flag Breakout: Is The Correction Finished?

22 Şub 2021

BABA formed a second bull flag after breaking out of a large descending channel. Watch for a bounce from the bull flag structure retest above $252.

If market weakness continues then we may see a deeper correction as low as $244 (lower blue zone) where we can look for alternative entries.

Initial target is $290 to fill the gap. Secondary is $302 based on structure. Invalidation below $240.

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