BABA overbought.....need a correction for further moves......
https://www.tradingview.com/chart/Z2cOHiOR/
BABA just overbought made lot of gaps, yes it may not cover all gaps from $80 breakout but $100 psychological support would be a nice test to make further new highs.
BABA just overbought made lot of gaps, yes it may not cover all gaps from $80 breakout but $100 psychological support would be a nice test to make further new highs.
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Daily volume also dipped means buyers are not aggresive to buy at these levels for now and some short sellers want to close their position near 100 who had bought puts and shorts near $100 as psychological resistance. And new investors also want to buy dip around or below $100. The further it moves toward $120, more likely it increases chance to drop for correction.
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