RE: Stage Analysis Beginners Questions
(2020-01-24, 08:08 PM)alphatech Wrote: I would love your opinion with BABA. It looks like that it is still on Stage 2 but due to the news of the virus in China, it is going down. From your past experience, would it be still a buy, would you wait a little bit more before you buy or sell it?
Its still in stage2 Alphatec, yes its pulling back and if anything is looking to retest the previous breakout of all time highs at 210
i wouldnt buy until its done retracing and broken its new all time high of 230 and it seems very early to think of selling. you could use the trader approach and manage your stop using the 10period MA if you were oncerned (and in it already)
this weeks activity does seem to have negated the last 3weeks of positive activity so it does look as though it has further to go. but i still think its a little early. this week has seen a lot of profit taking in the broader market but seems to have recovered
if you go down a timeframe, the daily is stage 3, so we could look at this in a few days to see where it still is..rather exit on a proper signal