Just for fun more than anything else. I saw a little inverted H&S lurking within the big one on BABA that we reviewed yesterday. I ended up buying the stock on the prospect that the anti-USD rallies may continue. If I am wrong I’ll probably off such positions decisively.
So consider this a little not so serious chart noodling before the goons issue their statement. I started out as a stock chart guy, after all. A first love, you might say.
Side technical notes: The major daily trend is down (SMA 200) but with the price having gotten above both it and the SMA 50, it’s a positive inkling. Also, the volume thrust that formed the right side shoulder is a positive.
A reminder that chart based NFTRH+ updates are technical trade setup ideas, which may not be revisited as the technical parameters are already noted. These updates are meant as a starting point for your further research if interested. I will not personally buy every item highlighted and will sometimes sell (ref. Trade Log) any item that I do buy below target (assuming I’ve not stopped out or sold for some other reason) as I often do. Also please be aware that I am not a fundamental stock analyst. Due diligence is your responsibility.
