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WATCH $BABA

Bullish

Fundamental

- Inflation Macro environment / fear sentiment
- Funds Accumulation
- Positive PE
- Negative PEG ( seems leaning towards a value stock )
- Positive P/FCF
- Weak Sector / Industry / not Leader
- Very competitive online retail market

Technical

- Momentum Theory Indicator - break out downtrend / bottomed out
- Price action formation ( falling wedge )
- Broke out downward trend line and retest
- Price above POC
- Price below major S/R level
- Huge volume spike!
- MACD divergence

Entry idea

- Entry idea was based on few confluences
- Price above major S/R level
- Price above fibo level
- Price above 200 MA

Stop loss set on previous low or POC level

" STEPS BY STEPS, BASE CAMP TO BASE CAMP. I WILL SUMMIT"

Cheers and happy trading!