With recent news surrounding Alibaba, I believe that a buying opportunity has presented itself.
With a double bottom bounce on the recent selloff we are looking to see a retracement back to $204 and then watch from there.
RSI indicates it is oversold.
MACD - first green bar (circled) indicated buyers might be coming back into play.
SMI - Flipped back and still in negative range.
Buy: Anything below $200
Stop loss: $197.75
With a double bottom bounce on the recent selloff we are looking to see a retracement back to $204 and then watch from there.
RSI indicates it is oversold.
MACD - first green bar (circled) indicated buyers might be coming back into play.
SMI - Flipped back and still in negative range.
Buy: Anything below $200
Stop loss: $197.75