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Alibaba Group Holding Limited BABA Stock Scan
After the peak in last November, the price action has been drifted south. Finally, the fall come to a stop in March this year. The price action retest the same low again in May, 2015.
The price action retrace back to the same high at IPO within the same month after the retest. However, the closed price of IPO seem to be a significant level. The price get reject since then, will the neck line give the price action the necessary support to stop the price from falling further. Will see!
June 18, 2015 Alibaba Group Holding
What is our Trade Strategy
General guideline, buy when price action bounce above moving average, sell when price rejected by moving average.
Only enter buy after price completed bullish chart pattern (candlestick) as well as the price action is near support, and enter sell after price completed bearish chart pattern (candlestick) as well as the price action is near resistant.
Consider buy when price action rejected by neckline. But ready to cut lost when the Bear Trap fail, and don’t let the lost become big lost.
You can read about other US Stocks scan in this website.
Thanks for visiting the website.
Moses
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