$Alibaba (BABA.US)$ Extremely high volume day today for BABA...
$Alibaba(BABA.US$
Extremely high volume day today for BABA. Rebounded on 119 again. Lets see if it holds. If it holds and starts retracing up a little, means selling climax on the 1st candle is over. And this could be a shakeout. But we will have to wait till it is over for the 1st hour before we can tell.
If it breaks 118, this will mean the US retail sales data is going to start affecting china stocks as well as we just got a very bad report at 9.30pm. Which means BABA may come down to retest 108 level.
So sit tight and do not panic until the 1st hour over and see where the candle closes. Currently we already have ultra high volume which if we close above 120 on the 1st hour it will mean there are tons of buyers supporting the price at 120. Which will confirm my theory of the smart money there. This will also make the 1st candle a selling climax candle which means the price will reverse from here.
As always, trade safe & invest wise!
Extremely high volume day today for BABA. Rebounded on 119 again. Lets see if it holds. If it holds and starts retracing up a little, means selling climax on the 1st candle is over. And this could be a shakeout. But we will have to wait till it is over for the 1st hour before we can tell.
If it breaks 118, this will mean the US retail sales data is going to start affecting china stocks as well as we just got a very bad report at 9.30pm. Which means BABA may come down to retest 108 level.
So sit tight and do not panic until the 1st hour over and see where the candle closes. Currently we already have ultra high volume which if we close above 120 on the 1st hour it will mean there are tons of buyers supporting the price at 120. Which will confirm my theory of the smart money there. This will also make the 1st candle a selling climax candle which means the price will reverse from here.
As always, trade safe & invest wise!
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momomoomoo : Thanks for your insights as usual, a delight to read.
BeBlessed : Hahaha can tag me when you see bullish sign on Nio?
Investing 101OP BeBlessed: Nio I think not so soon, may break 30 support. lol base on current market sentiment.
Investing 101OP BeBlessed: look out for 29.50, if it hits there with high vol and never break. Can enter. if break, 25.50 is the next support. after 25.50 is 20.50
BeBlessed : Gonna sleep soon hehe. Just had my booster jab this evening. Kinda sleepy. Hopefully Powell doesn't spook the market later.. Gn Bro 101
Investing 101OP BeBlessed: NIO rebounded off the 29.50 support with above average volume. See if today it opens green. If it does, could be a good signal for a short term trend reversal.
BeBlessed Investing 101OP: Yeah! Almost every counter shower green after Uncle Powell's speech.
Investing 101OP BeBlessed: Have to see tonight. Sometimes news take 1 day to take effect. 3 rate hikes instead of 2 next year which is hawkish. Faster tapering is also hawkish. But then again I did mention In other posts it could have all been priced in.
BeBlessed Investing 101OP: Btw I saw some users, there are those 'Buy' and 'Sell' signal appearing on their charts. Do you know what the indicator is?
Investing 101OP BeBlessed: Algo indicators. Based on certain indicators they ping buy or sell.
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