November 21, 2014
Confirmation
Anything can fail, therefore it is important to wait till pattern to complete. Bullish flag failed.
Continue the Analysis
A week ago, we looked Alibaba Group, BABA stock. there isn’t enough data to provide any clue what is the next price action. Now is exactly two months since the stock went IPO at NASDAQ. Follow the candle stick pattern, Dark Cloud, the price action went south. So, the resistance zone had stop the price from travelling north after the re-test.
Where will the price goes next?
The price action has completed an bullish engulfing candlestick pattern. If everything follow the rule, the price will travel north after this point. Will see.
Alibaba Group Holding, BABA, November 21, 2014 Daily
Thanks for visiting the site.
Moses
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