$BABA TOP 20
Added 2023-10-22 19:38:13 +0000 UTCChina moving their War Ships to the Middle Eastern region this weekend does concern me, as this is something they have not done before and I speak at length of the global significance of this on the $SPY chart.
I have added in the red Fib levels as potential support lines and the impulse wave would only become invalid if a new low is here below $57. I do not think we are that lucky for this to happen.
We need to watch for $77 line now, which was the low in May, this is a potential bounce level, below this level and the price can move down to the yellow trend line at $73, the 0.78 Fib is at $71.50 next.
Earnings are due out at the start of November, so a big report here will be needed.
I am not touching my $BABA stock, I am holding and will add when it finds support.
Comments
Oooh ok I see it: the two blue lines determine the buy area ππ»
Federico Salerno
2023-10-22 21:36:18 +0000 UTC71-57
Gareth Neary
2023-10-22 20:29:49 +0000 UTCCaptain: buy zone here is between 65 and 71? Not sure if my interpretation is correct
Federico Salerno
2023-10-22 19:49:47 +0000 UTC
