$Alibaba (BABA.US)$ for all you guys who are currently nervo...
$Alibaba(BABA.US$
for all you guys who are currently nervous about baba price dropping, do not worry yet. As of now, technicals are showing a divergence of volume and share price. creating new lows but volume is decreasing. This are signs of weakening selling and price is about to do a technical rebound. So do not worry yet on the price.
But after the technical rebound, the price is almost certain to touch 129. However I do foresee an incoming overall reversal of trend as based on large scale chart, there is also a stronger buying volume compared to selling despite the price creating new lows after new lows.
for all you guys who are currently nervous about baba price dropping, do not worry yet. As of now, technicals are showing a divergence of volume and share price. creating new lows but volume is decreasing. This are signs of weakening selling and price is about to do a technical rebound. So do not worry yet on the price.
But after the technical rebound, the price is almost certain to touch 129. However I do foresee an incoming overall reversal of trend as based on large scale chart, there is also a stronger buying volume compared to selling despite the price creating new lows after new lows.
This are all divergence of price and volume and whoever knows what I am talking about will be able to validate what I just shared.
However, only time will tell whether I am right or wrong.
As always, trade safe & invest wise!
However, only time will tell whether I am right or wrong.
As always, trade safe & invest wise!
Disclaimer: Community is offered by Moomoo Technologies Inc. and is for educational purposes only.
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momomoomoo : For the technical rebound, how high do you expect it to go before it falls back to 129?
Investing 101OP momomoomoo: that I cant say. I wont know until I see the actual strength of the rebound. Could be anything from 3-4% all the way up to 5 to 10% before it dies off.
momomoomoo Investing 101OP: okay, thanks for your views and looking forward to your future postings.
Investing 101OP momomoomoo: do follow and you can watch my videos as I did some TA on BABA and also other stocks together with main indexes which will affect general market sentiment.
102253445 : I can fill up my position today
Investing 101OP 102253445: you covering shorts? if you are covering shorts today, it is a good time to. due to weaken selling and you are doing it exactly at the right point.
Investing 101OP Mr VWAP: not if you know there will be technical rebound coming soon. But yes, usually you dont go opposite of the trend. but the indicators were pinging so badly of pullback incoming I had to go for a try.
102858008 : thanks. understand what you were talking about. divergence of price and volume. but looking at the EMA 12 and 26. 12 went below 26. still bearish. unable to see the reversal yet. but could see sell volume is lesser than last 2 days
Investing 101OP 102858008: Yes is still bearish trend. Divergence of price and volume was to catch incoming technical rebound. That's why I said I will exit once I catch that bounce. And my calls are not for long term hold. I bought Jan expiry only so I don't lose theta while waiting for the bounce. And I don't get too affected by IV crush.
102253445 Investing 101OP: What do shorts mean
I don't understand, my average price is 170 
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