anybody that is comfortable reading charts, plug in the MACD histogram settings of 65,90,12. these are martin pring's settings that identify longer term changes in trend. BABA got the bullish crossover today using those settings. relative strength index making higher highs, higher lows, now comfortable above 50.
shorter term MACD settings of 5,9,2 used by the guys at GrokTrade got a bullish shift today, with the MACD and signal line already above 0, with no bearish divergence present yet. signs point to a major move higher tomorrow.
200 simple moving average has flattened on the 2 hr chart. the bears are in big trouble here.
weak hands bail early, then BABA closes north of $85. $95 - $98 before earnings. then a big gap either way. but price is heading to that range before earnings. it will start with tomorrow's bullish reversal
last year, nov - dec, the MACD formed a double bearish divergence, as price made higher highs, but momentum did not confirm. this was followed by a nasty big red candlestick. the exact opposite has occurred recently. the MACD has formed a double bullish divergence over the last 2 months. look for a big white candlestick this week. maybe a re-test of the 200 day avg, which is starting to flatten out. short interest is almost 13%. shorts are most likely on the wrong side of this trade now
there is a unique chart pattern that has developed, and will soon be complete. We've got a very large island reversal in the making on the daily chart. this gap down, followed by a trading range, disguised as a bear flag, will resolve itself with a very large gap higher. maybe on the YHOO earnings, or some completely different news. I expect $98 next 2 weeks. I am accumulating May monthly $82.50 calls
institutions are scooping up cheap shares here, as retailers are selling and trying to short BABA. huge upside surprise on earnings imo. I will buy more on any weakness
it means the probability of a very large, 1 day, price advance is very likely. no additional news is required to make this happen. personally, I think we'll see a short squeeze to about the 10.70 level this week. near upper Bollinger band and reaching the ichimoku cloud
This is a bullish trigger, for technicians to enter on the long side. price is heading back to test recent highs north of $18.
ZUMZ and JACK also are finished correcting
push above $88 will confirm this breakout.
MACD (5,9,2 settings) ready for the bullish crossover. stochastic about to turn bullish. tomorrow should be a very bullish day for BABA.
that is what the chart setup is saying. gap and go. go ahead and bash this post, but you'll print it out and put it on your fridge tomorrow.
go ahead and put that in your pipe...
I would not feel comfortable if I was holding short positions tonight. A powerful move higher is coming very soon.
the MACD on the daily chart has finally crossed above the 0 line today. it crossed below 0 on Oct. 28th, providing the sell signal. it has not given a buy signal since that date, until today.
also, what has happened today, the longer term MACD setting, used my Martin Pring, of 65-90-12 parameters just got the bullish crossover today. this is also a technical buy signal
price is also above the 50 day moving average today.
shorts must cover, price is not heading back down. the 100 day moving average is at $54, and will be tested soon.
a bear trap was set today. price is oscillating around the 50 day sma. next is the 100 day sma. I added calls again today.
everyone on twitter is #$%$, and are locking in losses here. throwing their hands in the air. I am buying this morning, and will add if she gets weaker
the trend has most likely changed
15 min chart carving out a wave c. price should hold above 16.95 area. we will see big volume buying last hour today.
JACK has bottomed
nice bullish flag, or high-base on the 5 min chart
good luck traders