BEAR CASE
Main Points:
1) Stoch RSI is nearing overbought
2) ABC correction = 3-3-5 Flat
3) 0.786 retracement of previous full wave = 201
4) Equal legs target of Wave A = Wave C = 214.50 (exceeded)
5) previous support level @ 203
6) confluence of previous support and fib resistance levels at 200-205
Inference:
BABA is in a downtrend wave 5 which will complete the ABC correction from Oct high of $318 to the 0.786 fib/previous support around 201-205
Counter Points:
1) MACD is moving bullish not bearish
2) RSI is is just crossing from oversold levels with lots of room to go
Main Points:
1) Stoch RSI is nearing overbought
2) ABC correction = 3-3-5 Flat
3) 0.786 retracement of previous full wave = 201
4) Equal legs target of Wave A = Wave C = 214.50 (exceeded)
5) previous support level @ 203
6) confluence of previous support and fib resistance levels at 200-205
Inference:
BABA is in a downtrend wave 5 which will complete the ABC correction from Oct high of $318 to the 0.786 fib/previous support around 201-205Counter Points:
1) MACD is moving bullish not bearish
2) RSI is is just crossing from oversold levels with lots of room to go
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Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.