In today’s briefing:
- BABA Key Sell Points
BABA Key Sell Points
- BABA ADR shows well defined range trade points as the rising wedge matures. 173 stands out as formidable sell resistance and 157 the level to crack.
- MACD trendline coincides the “0” turn level that is expected to cap the upside near term and induce fresh down leg. The May break does send a forward weak signal.
- The macro picture continues to warn of a 135 retest in 2023. Current rising wedge is corrective in nature.
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