BABA 79.74 bearish – The 86.42 area near key retracement caps
BABA was capped in the 86.42 area (November 2, 2015 high) near 76.4% of the 95.06/57.20 fall. Last week’s downside reversal signals further weakness towards the 75.64 range support (November 9, 2015 low). Below lies the 71.49 retracement level (50% of 57.20/86.42 rise) where bulls may find a foothold.
However, an upside push through the 85.82/86.42 resistance zone (November 2/30, 2015 highs) would suggest end of the consolidation and resume gains towards 95.06 (May 18, 2015 lower high).
Outlook:
Daily: bearish
Weekly: neutral
BABA was capped in the 86.42 area (November 2, 2015 high) near 76.4% of the 95.06/57.20 fall. Last week’s downside reversal signals further weakness towards the 75.64 range support (November 9, 2015 low). Below lies the 71.49 retracement level (50% of 57.20/86.42 rise) where bulls may find a foothold.
However, an upside push through the 85.82/86.42 resistance zone (November 2/30, 2015 highs) would suggest end of the consolidation and resume gains towards 95.06 (May 18, 2015 lower high).
Outlook:
Daily: bearish
Weekly: neutral
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.
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.