Trend Turned Bullish for Alibaba Group

Trend Turned Bullish for Alibaba Group


Analysis Forecast:
Price Trend Turned Bullish


Analysis is for:
US Market
Short-Term Trading
Tactical Single Stock Allocation


Supporting Technical Observations:
1. Breakout of Downtrend (Supply) Line
2. Breakout of consolidation Base
3. Fund Flow Index (FFI), turned positive


1st Technical Target
US$250.00

Why this Level?
1. Key Supported turned Resistance Level
2. 261.8% Fibo Level
3. Whole Number


Below this Level means Incorrect Analysis:
US$204

 ================================


To follow up on post 
TradingView Post


To forecast market trends and read technical signals effectively:
Effective Technical Analysis and Market Forecasting 
(Online Class)
1st July 2021, 7.30pm (SG)

Blog Disclaimers Apply

Popular posts from this blog

Bullish Case for Bitcoin

Image
BTC Exhibiting Signs of Accumulation 1 year after BTC price plunged from its US$20,000 high to a recent low of US$3,215.20, now we are seeing technical evidence of  accumulation by the smart money is in progress . Above is an illustration of Accumulation Zone of the Wyckoff Price Cycle. We are watching very closely for price to cross the creek (est. US$4200 level).  A break above the level, we deem that price has proceeded into the Mark Up Phase with 1st objective at US$5,800. If creek is not crossed, a break below US$3,190 will falsify our Accumulation zone analysis. Join us in our FREE Introduction to Richard Wyckoff Seminar to learn more about the method and how the method add value to your market timing analysis.
Read more

Keppel DC REIT, Are We There Yet?

Image
  Keppel DC REIT, Are We There Yet? Analysis Forecast: Potential Support Level Analysis is for: SG Market Position Trading Income Portfolio Supporting Technical  Observations : 1. Price resting near Fibo 50% Retracement 2. Fund Flow Index (FFI), positive divergence To follow up on post  TradingView Blog Disclaimers Apply
Read more

Wyckoff's Law of Effort

Image
Law of Effort Wyckoff's Law of Effort states that on any single trading day (or week depending on time frame), huge volume (effort) push by participants should see huge price movement, resulting in a wide spread (long body). This is a basic principle of effort and result. However, as per Singtel's case study, we saw huge selling volume on 11 May, yet the price action only shows a narrow spread (small body). This divergence of effort and result in Wyckoff's Law of Effort principles, indicates possible exhaustion in selling or hidden buying. Thus, with a lack of weakness, Singtel should continue trading range bound for the coming days or weeks till further strength or weakness is observed. Swing Traders who trades range can consider positions at 3.70-3.72, with exit target 3.76-3.78.
Read more