$Alibaba (BABA.US)$ Looking at baba tonight and if it shows ...
$Alibaba(BABA.US$
Looking at baba tonight and if it shows any good price action I might enter heavy on baba. Pretty excited.
Looking at baba tonight and if it shows any good price action I might enter heavy on baba. Pretty excited.
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BeBlessed : baba as in alibaba or?
Investing 101OP : Yes alibaba
BeBlessed : Dow Jones looks bearish based on my reading
1) Two bearish down bar last friday
2) The candlestick broke below the support trendline....
am I on the right direction? I'm new and still learning on reading TA
Investing 101OP BeBlessed: Yes Dow is looking slightly to bearish side. Wait for it to touch 50ema on daily chart. But Dow and russell 2000 is a reason why I feel nasdaq and spx maybe running out of steam soon. Spx and nasdaq pushing higher. But Dow and Russell pulling back. Russell already broke below breakout resistance trendline. Final support is at 2325. If it breaks tt too I think the rest of indexes might follow.
Investing 101OP : Of course there are other factors for nasdaq n spx which I did also explain in my video.
Investing 101OP BeBlessed: Dow has actually not broken the breakout resistance trend line yet. 35529 and 35443 which is near to 50EMA is the 2 support.
Base on my experience it is still under ''retest'' breakout zone so not fully bearish. Thats why have to wait for 50EMA retest first. which will be at the breakout retest zone.
BeBlessed Investing 101OP: Alright thank you so much!