$BABA TOP 20
Added 2024-01-28 18:32:39 +0000 UTC$BABA has reacted well to Chinese aggressive stimulus measures this week and moved in step with the Hang Sang index.
The price bounced very quickly out of the buy zone, having only entered it for a few days and is now out of the buy zone already.
The 50 Day MA was the resistance level this week and I have added in the white fib levels to see where support may come, the 0.5 Fib on the blue line at $71 is of interest to me the most, a hold here and I will add.
We can see very clearly the impact of this red line on the chart, it was a support line in June and then lost support in November and then rejected at this level at the end of the year when the Hang Sang index started to sink, so flipping this level at $77 back to support will be huge for the bulls.
Earnings are also due on the 7th of Feb, so this is going to be a big day for us $BABA and $PYPL bulls.
