Alibaba - Trading opportunity is finally there!

2024年5月13日

Hello Traders and Investors, today I will take a look at Alibaba.

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Explanation of my video analysis:

Almost a decade ago Alibaba stock retested a strong support at the psychological $60 level and reversed significantly towards the upside. Just a couple of months ago Alibaba stock once again retested this support and created an anticipated reversal. If Alibaba stock actually manages to break above the current resistance trendline, we could maybe see a similar rally like we saw in 2015 and the following years.

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Keep your long term vision,
Philip (BasicTrading)

2024年5月22日

註釋

Don't get caught up guys, patience is your biggest friend as always.

BABA is once again rejecting resistance but the overall setup is still valid: