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BABA on the 5 year timeframe and I spotted a head and shoulders pattern indicating we could be entering the uptrend phase of that pattern which could last all of 2022. I used the Fibonacci time zones and retracements in order to try and estimate the length of the trends and it seems like we are entering the bullish phase of the right shoulder formation now, especially since the stock just bounced back from a strong support that is back dated to 2016. In addition, RSI is showing that it's in oversold territory along with MACD indicating a buy signal.
BABA on the 5 year timeframe and I spotted a head and shoulders pattern indicating we could be entering the uptrend phase of that pattern which could last all of 2022. I used the Fibonacci time zones and retracements in order to try and estimate the length of the trends and it seems like we are entering the bullish phase of the right shoulder formation now, especially since the stock just bounced back from a strong support that is back dated to 2016. In addition, RSI is showing that it's in oversold territory along with MACD indicating a buy signal. 
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