As posted previously, BABA is in this bear flag pattern.
Previously, I was looking for BABA to break to the upside. However, it seems that it may go down even further. It is almost testing a KEY support level around the 110 mark.
If it breaks to the downside, there is going to be HUGE trouble for BABA.
Look for that 110 mark. A close below on the daily is trouble. One might be able to play long from this bottom support line if they're feeling risky.
Previously, I was looking for BABA to break to the upside. However, it seems that it may go down even further. It is almost testing a KEY support level around the 110 mark.
If it breaks to the downside, there is going to be HUGE trouble for BABA.
Look for that 110 mark. A close below on the daily is trouble. One might be able to play long from this bottom support line if they're feeling risky.