BABA setup looks clean here. Huge Dark-pool volume buy this morning around $271 level. Must hold that level to keep thesis in-tact.
Nota
Remains bullish with a close above $271 in my opinion.Nota
Two potential pathways: Nota
We bout to find out if this low volume break-down is a fake-out before a continuation of breakout and on to $276 this week, or if it revisits 268 first.. Hoping for continuation higher here in the final hour but be prepared for all possibilities.
Nota
Nota
I continue to lean on the bullish side here on BABA as long as three things occur:1) We remain above $271
2) My Ann alert continues to say Long/Buy.
3) Bullish thesis strengthens if price > $273.
BABA continues to be a catch-up play with huge Emerging Market exposure that hasn't already run-up since it's still recapturing it's levels from the unwarranted Ant Group sell-off. This remains an excellent long for 2021 in my humble opinion.
Nota
Looks like a bull flag here into the close.. Be safe.
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