Member @raider74 ask for my thoughts on BABA (Alibaba Group Holding Ltd) in the trading room. The chart looks pretty clear to me with BABA currently testing the primary trendline generated off the Dec 2016 lows. Being that this is the first tag of the primary uptrend line since May, BABA may (or may not) need one last trust up inside the bearish rising wedge pattern before breaking down.
BABA daily Dec 1st
On watch for a potential short swing trade with targets around 163 & 133 but just wanted to share the setup for anyone interested, including those that might be long as an impulsive break below that trendline, especially with the large negative divergences in place, is likely to spark the next wave of selling in this stock.