The Long Investor

$BABA TOP 20

Added 2024-02-09 17:15:55 +0000 UTC

$BABAs post earnings decline was a disappointment and we watched all day yesterday to see where it can find support and for now, there has been support found between the 0.5 Fib and the 0.618 Fib and the blue line....which is where we wanted support to hold at the start of Feb.

So are we back to where we started just before the earnings run up? yes, so I am not too concerned about this.

But any loss of the 0.618 Fib level will bring us back down to $68 or worse still, testing the lows again.

Holding support here and consolidating sideways until this builds up strength then I will be more than happy to see....we will likely need a few days of strength building before we can consider adding a count here.