BABA Potential for bearish momentum | 26th May 2022 for NYSE:BABA by desmondlzw

With prices moving below the ichimoku indicator, we have a bearish bias that price will drop from our sell entry at 92.71 where the horizontal swing high resistance is to our take profit at 78.53 in line with the overlap support, 61.8% fibonacci projection and 78.6% fibonacci projection . Alternatively, price may break entry structure and head for stop loss at 101.38 where the horizontal swing high resistance and 50% fibonacci retracement are.

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