Replies to post #22036 on Market Direction and Stock Trends

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>>> 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/

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