BABA has been on a medium term downtrend since 211220 with a short signal at $256.42. The weekly pivot at $195.35 determines whether BABA has a chance to resume its long term uptrend. The day charts are long at $155.60 on 071021. A close above $195.35 will reverse the weekly downtrend and provide a door to the resumption of the long term uptrend
Long Term PULLBACK since 010721
Medium Term DOWNTREND since 211220
Short Term BASEFORMING since 155.95
PIVOT 195.35
Short positions below 195.35 for 155.95 and 102.77
Long positions above 195.35 for 271.11 and new ATH
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