BABA really obeyed the channel on its descent and when it bounced it immediately began retracing its journey from its nadir. Hard to say what confluence of fundamental events surrounding Jack Ma and ANT IPO and Chinese regulation really did the dent in the price action, but BABA was more or less overbought on the 1hr timeframe according to the RSI in October. There is a small C&H on the 15 minute. If not that, it might be a pennant that forms from the right lip of the cup itself. Would love to see BABA achieve new highs by June so I am longing what I think might be the end of the right shoulder of what I think is a massive inverted H&S.
This is not investment advice but the idle musings of an old man.
This is not investment advice but the idle musings of an old man.