Did BABA Print the Bottom?

No matter how hard you try to understand the chart, the market can gap sharply higher or lower because of unexpected news events. Honestly speaking these are the extremes of the probability curve, and we must accept as part of the territory by anyone who ventures into speculation. I like this security more of investment than trading but we have to also do our best to project where some institutions will load and the price equilibrium. No dispute that the stock remains within distribution zone though last few days that seems changing but not yet signal a buy and it remains trading below both its 50/20 day moving average. Price has reclaimed its 19-day ema which is a bullish but will see if we can trade above $39-dema at and around 66.07. Today's price action was more of balanced but not strong and understandable after large move from Friday's low. Now will be watching today's high for a clue and if price manages to break Sept high, I will add more.Real time alerts 2waytrading.com