BULLISH PRICE RSI + MACD DIVERGENCE ON BABA
After weeks of bashing, this stock seems to be finally moving towards its bottom. There are various indicators that points that BABA has bottomed out.
1. RSI - PRICE DIVERGENCE on Daily chart. Both RSI & MACD have improved while the price has been on a Downward trajectory.
2. PUT CALL Ratio changing its complexion from completely bearish to less bearish on Monthly options.
3. The stock is sitting at 61% Fib retracement.
4. Inverted hammer on weekly candle (though this is a red candle but still it can be looked as a reversal candle if next candle breaks the high of previous week)
5. 30 & 60 Min RSIs bouncing off from low 20s again and again.
6. Too many CPR gaps to be filled in the range of 155 - 167
If this gap up in next trading session. Just go long blindly.
1. RSI - PRICE DIVERGENCE on Daily chart. Both RSI & MACD have improved while the price has been on a Downward trajectory.
2. PUT CALL Ratio changing its complexion from completely bearish to less bearish on Monthly options.
3. The stock is sitting at 61% Fib retracement.
4. Inverted hammer on weekly candle (though this is a red candle but still it can be looked as a reversal candle if next candle breaks the high of previous week)
5. 30 & 60 Min RSIs bouncing off from low 20s again and again.
6. Too many CPR gaps to be filled in the range of 155 - 167
If this gap up in next trading session. Just go long blindly.
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