Short Term Long; Long term Short
It's clear Baba's RSI on the weekly is forming a base, as well as coming into a long term support trend. When the overwhelming majority are looking short/bearish the scales then tilt and no one is left to sell and only buyer are left to drive up price action. Short term accumulation zone is $75-95, buying long term LEAPS for March 2023. Not financial advise; short term if Baba establishes a minor trend change it will likely run. Keep in mind it will not be out of the woods until we clear $180-200, at which point the fib retract will favor a symmetrical triangle over the potential descending triangle currently being formed.
Conclusion: Baba's chart has a lot of work to do before it can change the long term trends, however sentiment is overwhelmingly negative regarding sentiments that do not affect the companies fundamentals. I see a great entree level at present moment with take profits at $125 & 150
Trust the charts and ignore the media FUD, price actions is king! GLHF!!
Conclusion: Baba's chart has a lot of work to do before it can change the long term trends, however sentiment is overwhelmingly negative regarding sentiments that do not affect the companies fundamentals. I see a great entree level at present moment with take profits at $125 & 150
Trust the charts and ignore the media FUD, price actions is king! GLHF!!
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