$BABA TOP 20
Added 2023-09-06 10:19:59 +0000 UTC$BABA was flat for a lot of yesterday but we can see on the 1hr chart that there has been a perfect flip on the 200 Day MA from being a resistance to support level.
We can also see that the 50 Day MA on the 1hr is moving up to cross the 200 Day MA shortly, this would be a bullish indication.
This wedge is also getting tighter and tighter so it appears that a big move is coming.
Bulls have been defending very important support lines, so my thoughts are that the move is to the upside.
Either way we will monitor this closely as always.
For the month of August I was accumulating in the mid 90's, which is where we are now, so if I am happy to do this then I recommend it too.
For me, anything below $100 is offering value and this is certainly a long term hold.
