BABA.US D1 Our expectations:
A new long trend is formed, breaking a previous high. All major resistances are being break. Breakthrough of horizontal, diagonal and dynamic (200SMA) resistance. A double bottom formation for long is activated.
Breakthrough 50% Fibonacci.
Price over 50SMA and 200SMA.
DeMarker over 0.7 – overbought, sudden upward impulses are possible.
Alternative Scenario: Returning the price below 165 will probably lead to broad consolidation.
Trader Georgi Bozhidarov