$BABA is red in the PM right now but on the chart it is another test of the 0.618 Fib exactly at $87.08, this is also a blue support line, which means it has been a strong resistance/support line in the past.
I have no issue with $BABA building up strength and consolidating above this line, it can take as long as it likes.
Losing this level and I think the 200 Day MA is next at $82 then.
Holding.
Vojtěch Šimeček
2024-11-19 10:50:43 +0000 UTC