BABA The stock is trading inside a descending channel, and last Friday's candle with the increased volume showed a strong bounce from the 3.618 Fib extension.The Accumulation Distribution, MACD, and RSI all show bullish divergence, meaning accumulation is happening underneath while the price declined.
The weekly candle also printed a hammer candle, which means if the price can close above $70.50, it can see further gains.
Here are my upside targets:
$73
$76
$80
$85
Downside Risk:
$63
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I am not a licensed professional. None of the posts that I published are investment advice. Do your own research.
Clause de non-responsabilité
Les informations et publications ne sont pas destinées à être, et ne constituent pas, des conseils ou recommandations financiers, d'investissement, de trading ou autres fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.