28 November 2018, Wednesday, 8.38pm Singapore Time
(Click on Technical Chart above to Expand)
Attached is the weekly chart technicals for Alibaba Group Holdings that is listed in the US Market (NYSE: BABA). Alibaba share prices is acting in accordance to the technicals of how a strong stock should be. In the weekly technicals, RSI of 30-35 never fails to re-start a rally on Alibaba, and the rally has always been significant. This happens because Alibaba is a strong company and smart monies like this company. Alibaba has hit such an RSI again at 30-35, and the volume flow is bullish now. Any high red volume bars are quickly negated by high green volume bars suggesting there was a lot of selling absorption (transfer of hands from plenty of weak minded fearful retailers to strong mental strength smart monies).
Past Alibaba Analyses:
http://donovan-ang.blogspot.com/search/label/Alibaba
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