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Monday, August 07, 2017 12:42:32 PM
>>> Is BABA Poised to Start a New Upleg?
By MPTrader | August 7, 2017
Today's 3% thrust in Alibaba Group Holding Limited (BABA), largely in reaction to the company's announcement of a joint venture with Marriott, has the right look of the initiation of a new upleg after the completion of a correction from 160.39 (7/27) to 149.10 (8/02), which, if accurate, points BABA towards new all-time high targets in the vicinity of 163.00, 166.00, and possibly 175.00.
Interestingly, my work argues that BABA's medium-term chart structure exhibits a very bullish "curvature" that is similar in form to Amazon.com, Inc. (AMZN) during its Jan 2017 period prior to its vertical
https://www.mptrader.com/middayminute/
• DiscoverGold
Click on "In reply to", for Authors past commentaries
By MPTrader | August 7, 2017
Today's 3% thrust in Alibaba Group Holding Limited (BABA), largely in reaction to the company's announcement of a joint venture with Marriott, has the right look of the initiation of a new upleg after the completion of a correction from 160.39 (7/27) to 149.10 (8/02), which, if accurate, points BABA towards new all-time high targets in the vicinity of 163.00, 166.00, and possibly 175.00.
Interestingly, my work argues that BABA's medium-term chart structure exhibits a very bullish "curvature" that is similar in form to Amazon.com, Inc. (AMZN) during its Jan 2017 period prior to its vertical
https://www.mptrader.com/middayminute/
• DiscoverGold
Click on "In reply to", for Authors past commentaries
Information posted to this board is not meant to suggest any specific action, but to point out the technical signs that can help our readers make their own specific decisions. Your Due Dilegence is a must!
• DiscoverGold
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