A Bearish Signal Is Forming on Alibaba?

Share On Facebook
share on Linkedin

Alibaba stock (NYSE:BABA) has been engaged in what is best known as zigzag movement since January 2020. Price dipped from January to March, rose in April and May and has currently dipped again.

Buyers have failed to prevent further dip as price is now staying below the EMA 21, while William’s % Range period 20 is going into the oversold region. Once another candle opens below the EMA 21 and Williams’ % Range goes into the oversold region, the current bearish effort would be confirmed and remain successful.

The possibility of BABA going further downwards is higher than its possibility of going upwards, so sellers could win in the long run. Potential targets remain at the accumulation territories at 190.00, 180.00 and 170.00.

 

Trading realities: Trading realities

CLICK HERE TO REGISTER FOR FREE ON ADVFN, the world's leading stocks and shares information website, provides the private investor with all the latest high-tech trading tools and includes live price data streaming, stock quotes and the option to access 'Level 2' data on all of the world's key exchanges (LSE, NYSE, NASDAQ, Euronext etc).

This area of the ADVFN.com site is for independent financial commentary. These blogs are provided by independent authors via a common carrier platform and do not represent the opinions of ADVFN Plc. ADVFN Plc does not monitor, approve, endorse or exert editorial control over these articles and does not therefore accept responsibility for or make any warranties in connection with or recommend that you or any third party rely on such information. The information available at ADVFN.com is for your general information and use and is not intended to address your particular requirements. In particular, the information does not constitute any form of advice or recommendation by ADVFN.COM and is not intended to be relied upon by users in making (or refraining from making) any investment decisions. Authors may or may not have positions in stocks that they are discussing but it should be considered very likely that their opinions are aligned with their trading and that they hold positions in companies, forex, commodities and other instruments they discuss.

Leave A Reply

 
Do you want to write for our Newspaper? Get in touch: newspaper@advfn.com

By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions

P: V: D:20201205 02:18:37