Pullback Continuing for Baba

16 באוק׳ 2020

The upturning trendline on the daily chart has been broken and we've closed at lower lows for the past couple days, after BABA made it's 52week high. Since we both opened and closed under the resistance line at 300, I estimate we will continue the downtrend until we touch the lowest blue trendline at around 286~290. MACD also continuing to decrease and RSI pulling back from overbought region, the lower limit RSI typically going back to around 46.