Not to long entry level.
BABA broke out of an almost chronic channel down, sometimes known as a regression channel.
Giant H&S pattern at the very top which seems to be many moons ago.
The 200 DMA continues to slope down, but the 20 crossed up through the 50 and the 50 looks to be trying to cross up through the 100.
Appears to be forming a cup and handle with a inverse H&S at the bottom of the possible cup pattern.
My fingers are crossed as it does seem BABA has a hard time catching a break )o:
No recommendation.
Earnings estimated on 8-25.
Harami cross noted that was bearish yet price opened above this pattern the next day which happens but is not the norm. Perhaps the after hours crowd just bought a bunch of BABA. Rejection candle today with long top wick.
Be safe and watch out for Mr. Market messing with your head )o:
BABA broke out of an almost chronic channel down, sometimes known as a regression channel.
Giant H&S pattern at the very top which seems to be many moons ago.
The 200 DMA continues to slope down, but the 20 crossed up through the 50 and the 50 looks to be trying to cross up through the 100.
Appears to be forming a cup and handle with a inverse H&S at the bottom of the possible cup pattern.
My fingers are crossed as it does seem BABA has a hard time catching a break )o:
No recommendation.
Earnings estimated on 8-25.
Harami cross noted that was bearish yet price opened above this pattern the next day which happens but is not the norm. Perhaps the after hours crowd just bought a bunch of BABA. Rejection candle today with long top wick.
Be safe and watch out for Mr. Market messing with your head )o: