Alibaba stock (NYSE:BABA) has been making some bullish effort
recently, which has given hope beyond a reasonable doubt that the bias for this
year would be bullish.
The stock made some bullish attempt last year, but started coming
down this year. At the lower Trendline, further bearish movement was rejected
in February 2016, and since then the stock has been trading upwards.
So far, the price has been moving upwards as the RSI period 14 is
above the level 50. This is a bullish signal, which means more and more supply
levels would be breached this year.
This forecast is ended by the quote below:
“Stocks
themselves are theoretical entities that are not much different than they were
decades (or even centuries) ago. And human psychology is pretty constant over
the ages - not that this makes it easy to deal with people.” - Dr
Brian Bloch
Azeez Mustapha
Market Analyst, Trading Signals Provider and Coach
What Super Traders
Don’t Want You To Know: Super Traders
Buy and sell Neteller here; get funded quickly: www.ituglobalfx.com.ng
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