$BABA TOP 20
Added 2024-08-11 19:04:32 +0000 UTCI added this commentary 2 days ago but it is worth reading this again:
So big picture here:
Large Wedge breakout in April
Followed by a second wedge in August
Followed by a second wedge breakout in August
Making higher lows since the low in Jan '24
Above the 50 and 200 Day MA now
Above the red resistance line
Making a higher high now
Moving in an impulse count
Holding at Fib Support levels on pull backs
Next we need another higher high above $81
These are the facts.
Earnings are out on Thursday before the market opens and this is the catalyst that $BABA needs to move higher, they have missed on their last 2 earnings but have showed signs that the worst is behind them.....they also continue to buyback shares and have added a dividend which I have enjoyed.
The setup is there, $BABA need to do their part now and beat on earnings with a positive guide.
Comments
Hola!! Siguiendo su propuesta de mercado hasta final de año bajista, ve buena compra baba ahora? Un saludo
Oscar
2024-08-12 18:57:50 +0000 UTC
