Annual Trading Forecast on Alibaba (2016)

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Alibaba stock (NYSE:BABA) has been making some bullish effort recently, which has given hope beyond a reasonable doubt that the bias for this year would be bullish.

The stock made some bullish attempt last year, but started coming down this year. At the lower Trendline, further bearish movement was rejected in February 2016, and since then the stock has been trading upwards.

So far, the price has been moving upwards as the RSI period 14 is above the level 50. This is a bullish signal, which means more and more supply levels would be breached this year.

This forecast is ended by the quote below:

“Stocks themselves are theoretical entities that are not much different than they were decades (or even centuries) ago. And human psychology is pretty constant over the ages – not that this makes it easy to deal with people.” – Dr Brian Bloch

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