“Small soil, large floor” we last titled the Alibaba share (see “HSBC Daily Trading” from February 12). This scenario is now true. Finally, the sprint over the high points at 118/120/124 USD ensures that a second, even larger double floor (see chart). Derived from the height of the lower reversal formation, there is now a calculated connection potential of around $ 50. Interestingly, this course potential is sufficient to focus on the horizontal barriers at almost $ 170. The tailwind currently comes from the trend -following indicators MACD and AROON, both of which have just generated a new entry signal in sync. Speaking of MacD: The trend successor can currently be interpreted in a friendly interpretation in all time levels we consider (day, week, month). Chart and market technology are currently “green light”. In order to secure the previously accrued profits, the stop at the level of the upper Bollinger band (act. At $ 125.91) or the outbreak marks can be drawn at $ 124.
Alibaba Group (ads) (Weekly)
Source: Refinitive, Tradesignal² / 5-year-old in the appendix
5-year-old Alibaba Group (ADS)
Source: Refinitive, Tradesignal²
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