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Chart Talks: BABA spots a bullish RSI divergence. Can it extend the breakout?

Event Description
Ended
Ant Group, Alibaba's financial arm, settled with Chinese regulators and received a fine of $982 million, marking the conclusion of the regulatory crackdown and could pave the way for the company to revive its long-anticipated IPO. Ant launches $6 billion buyback after regulatory crackdown ends, and the $Alibaba (BABA.US)$ share soared 8% on July 7th.
*For illustrative purposes only. Not a recommendation of a specific security or investment strategy. Past performance is not indicative of future results.

Technical Analysis View
- Bullish RSI divergence is a technical analysis term used to describe a situation where the price of an asset is making a lower low while the RSI (Relative Strength Index) indicator is making higher lows.
- Bullish RSI divergence is important to traders because it could signal a potential trend reversal. When an asset has been in a downtrend, and the RSI starts to show bullish divergence, it could indicate that the selling pressure is weakening and that buyers are starting to take control.

Questions:
1) Do you think BABA will continue its breakthrough?
2) What else did you find in BABA's technical chart? Feel free to comment!

Rewards:
- The top three posts will be given 1,000 points for each, based on the content’s originality, quality, and engagement.
- 200 points for every mooer who publish analysis over 15 words.
*Try to use chart tools (drawing tools, indicators) assist your analysis and improve your chances of winning!

This presentation is for information and educational use only and is not a recommendation or endorsement of any particular investment or investment strategy. See this link for more information.
Ant Group, Alibaba's financial arm, settled with Chinese regulators and received a fine of $982 million, marking the conclusion of the regulatory crackdown and could pave the way for the company to revive its long-anticipated IPO. Ant launches $6 billion buyback after regulatory crackdown ends, and the $Alibaba (BABA.US)$ share soared 8% on July 7th.
*For illustrative purposes only. Not a recommendation of a specific security or investment strategy. Past performance is not indicative of future results.

Technical Analysis View
- Bullish RSI divergence is a technical analysis term used to describe a situation where the price of an asset is making a lower low while the RSI (Relative Strength Index) indicator is making higher lows.
- Bullish RSI divergence is important to traders because it could signal a potential trend reversal. When an asset has been in a downtrend, and the RSI starts to show bullish divergence, it could indicate that the selling pressure is weakening and that buyers are starting to take control.

Questions:
1) Do you think BABA will continue its breakthrough?
2) What else did you find in BABA's technical chart? Feel free to comment!

Rewards:
- The top three posts will be given 1,000 points for each, based on the content’s originality, quality, and engagement.
- 200 points for every mooer who publish analysis over 15 words.
*Try to use chart tools (drawing tools, indicators) assist your analysis and improve your chances of winning!

This presentation is for information and educational use only and is not a recommendation or endorsement of any particular investment or investment strategy. See this link for more information.
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