$BABA TOP 20
Added 2024-07-27 20:02:12 +0000 UTCPolicy makers announced two rate cuts over the last week and made a standard Monday morning announcement to help its market, the message carried relatively flat and although the HSI did not sell off as much as the US market, it also did not react positively either....unlike April, that may still happen and market watchers expect more stimulus measures to take place.
$BABA is below its 200 Day MA, still within its tight range and still in a sideways triangle.
We can see in June that support was found between the 0.78 - 0.887 Fib and the price action bounced next, we want this to happen with $BABA too and reclaim its 200 Day MA and break to the upside.
If there is a breakdown, $71 and $66 levels are support levels I will be watching.
Whatever happens with $BABA under the 200 Day MA, I will accumulate slowly.
Comments
Using standard candles BABA is above 200MA. Just so you know, there is brighter scenario
Vojtěch Šimeček
2024-07-28 10:04:26 +0000 UTCIf it again reaches 66 71 levels this time i would not find it attractive any more. This thing has been at these levels for past 3 years. Sick of hearing it will reach 100 120 in charts only to see it reaching again 66 71
NalaikPanda
2024-07-27 22:51:11 +0000 UTC
