Ill link a video i made for the fam alongside this, so if you're more interested, check that out. It is about 10 minutes and has some info on the DJI also (2nd part of a 2 part video)
Ima keep this straight forward. None of this surprised me. Before the trade wars even started I knew we would be back down. The only different, is that I did not think we would fall under the yellow line. But knowing that the trade wars were ramping up[ alongside many other problems in the Chinese markets, it was pretty easy to see.
The main thing now, is that we are under the downwards trend line that was formed from the highs earlier in the year. I was surprised that the price went back above the line, but not surprised that it did not stay above it.
I expect the pink area to be the area of major support and a good point to buy back in at. Though TBH, the .75 is probably a bad place, considering that if it hits the .75, it is then under a massive amount of resistance. and there is pretty much 0 reason to buy Alibaba between 159-168 dollars.
I expect to see a wedge with the base price between 172 and 176 dollars.
I'll keep updating though as time goes on.
Ima keep this straight forward. None of this surprised me. Before the trade wars even started I knew we would be back down. The only different, is that I did not think we would fall under the yellow line. But knowing that the trade wars were ramping up[ alongside many other problems in the Chinese markets, it was pretty easy to see.
The main thing now, is that we are under the downwards trend line that was formed from the highs earlier in the year. I was surprised that the price went back above the line, but not surprised that it did not stay above it.
I expect the pink area to be the area of major support and a good point to buy back in at. Though TBH, the .75 is probably a bad place, considering that if it hits the .75, it is then under a massive amount of resistance. and there is pretty much 0 reason to buy Alibaba between 159-168 dollars.
I expect to see a wedge with the base price between 172 and 176 dollars.
I'll keep updating though as time goes on.
