1 January 2021
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BABA | Alibaba Group Holding Stock Charting and H M Gartley ABCD Pattern
Picture worth a thousand words, see chart. Price Action shot up in 2020. But has a major pullback in October. Price Action is now below last year high. 2020 has been a great year for Alibaba, but before the year end. Seem like those join in this year got trapped. Money are not trapped.
From an AB=CD pattern, the price action seem to at the end of CD leg. That is why you a re-bounce in the last two days. But trade with eyes open. As what if the CD leg extended.
From a supply and demand stand points, now the supply is more than demand. Many are cutting lost or taking their money on the table.
Manage your risk.
Picture Worth a Thousand Words
Moses Free Stock Charting
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Disclaimer
We do not recommend buy or sell of any financial instrument. All information post here is to show the power of Amibroker charting software and technical analysis (TA). If you do not know what is TA, please find a training to go through.