TRIANGLE PATTERN. $BABA

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BABA

Alibaba developing a triangle pattern about to end. This action presents great opportunities for buying or selling. On the one hand, the support of China and the United States for markets in general raises the odds for an upward trend for the market in general. On the other hand, the coronavirus, despite being of little relevance to the markets, can significantly affect Alibaba and Apple shares, even with the injection of capital by central banks. Since the longer this problem lasts, Asia's economic development will end up affecting the markets due to future low GDP growth, taking as soon as China's annual GDP target drops before the coronavirus. As you can see the risk is minimal and the opportunities great. As I write this Apple reported that it will not be able to reach the goal of the first quarter of 2020 due to the coronavirus, Sp500 futures fell to -0.32 (3370) having been close to 3899.
Another very important thing arr the indicators MACD and RSI after the record high of $231.14, the stock fell and recovered to reach $226.70 at the open and then fell. As you can see ( yellow rectangles on MACD &RSI), they didn't show recover, considering the recovery from $205.47 to $226.70.
Ghi chú
Aproach working really nice. As I told you, the dotted lines are the confirmation of the break of the pattern. On February 19, we had a false breaking signal, the price closed at 220.52, above the dotted line, on February 19, the minimum price touched the bottom line that is part of the triangle and the maximum price coincided with a support in another dotted line. On February 20, just at the end of the pattern, the break was down, the price broke the support for the confirmation marked on the dotted lines. The day I write this the price is close to the first support that marks with yellow lines and red arrows.
Triangle

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