hi Traders
Today we are analyzing Alibaba Group Holdings Ltd. (NYSE:BABA) on a 4hour chart basis.
Alibaba stock is currently trading at $124
We expect that the price will get rejected at the downsloping resistance and in some time it will come back down to retest the support level around $100.
Following this event, we expect the price to bounce and move up towards the downsloping trendline (yellow line), which could be a take profit level.
$145 is the target.
This pattern (if continued) imitates a descending triangle.
We advise entering (buy) at this support line around $100. Be patient!
The stop loss can be placed around $95.
Good luck
Today we are analyzing Alibaba Group Holdings Ltd. (NYSE:BABA) on a 4hour chart basis.
Alibaba stock is currently trading at $124
We expect that the price will get rejected at the downsloping resistance and in some time it will come back down to retest the support level around $100.
Following this event, we expect the price to bounce and move up towards the downsloping trendline (yellow line), which could be a take profit level.
$145 is the target.
This pattern (if continued) imitates a descending triangle.
We advise entering (buy) at this support line around $100. Be patient!
The stop loss can be placed around $95.
Good luck
💥 Free signals and ideas ➡ t.me/vfinvestment
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.
💥 Free signals and ideas ➡ t.me/vfinvestment
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.