Alibaba's chart resembles Apple before its recent breakout
Today was Singles Day for cyber-shoppers in Asia. The annual event by Chinese e-commerce giant Alibaba (BABA) set another record, up 27 percent from 2018.
Earnings have beaten estimates for the last three quarters. BABA's also a key stock to watch if trade relations between the U.S. and China continue to show signs of improvement.
Still, it's been trapped in a range all year while making higher lows. Interestingly, the current price action may resemble Apple (AAPL) about two months ago. The iPhone maker was in a range and holding its 50-day SMA. Then it broke a triangle and paused for a few weeks before heading to new highs. Does BABA face a similar setup now?
BABA
AAPL
Here's the AAPL chart showing price action in September and October:
Earnings have beaten estimates for the last three quarters. BABA's also a key stock to watch if trade relations between the U.S. and China continue to show signs of improvement.
Still, it's been trapped in a range all year while making higher lows. Interestingly, the current price action may resemble Apple (AAPL) about two months ago. The iPhone maker was in a range and holding its 50-day SMA. Then it broke a triangle and paused for a few weeks before heading to new highs. Does BABA face a similar setup now?
BABAAAPLHere's the AAPL chart showing price action in September and October:
Thông báo miễn trừ trách nhiệm
Thông tin và ấn phẩm không có nghĩa là và không cấu thành, tài chính, đầu tư, kinh doanh, hoặc các loại lời khuyên hoặc khuyến nghị khác được cung cấp hoặc xác nhận bởi TradingView. Đọc thêm trong Điều khoản sử dụng.