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$BABA - It's time to BUY again!
I've been closely tracking this setup over the last couple of weeks because, following the breakdown below the 2D Bull Market Support Band at $132, which aligns with the 0.618 Fibonacci POI and the high-timeframe support range marked in purple, the price has continued moving lower and I've been looking for a re-accumulation opportunity.
It seems like I'm finally getting one, as the price is now nearing the high-timeframe support range marked in green, sitting between $115 and $118. This is the same area that marked the bottom last time, and where we also bought when it was previously tested.
I still view this as a high-timeframe accumulation range that has not yet broken out, and I continue to see tremendous opportunity going forward for the broader Chinese market.
I strongly recommend you cut atleast 30% position 👍