Everyone was watching for a breakdown below the 200-week moving average, but that move didn't hold.
Instead of follow-through selling, buyers stepped in aggressively to defend that level, and demand showed up exactly where it needed to. That's the kind of price action I find noteworthy.
Now $Alibaba(BABA)$ is reclaiming key technical levels with improving momentum. If this recovery continues and volume expands, it could turn into a stronger trend reversal than many anticipated.
I'm keeping an eye on the next resistance area. The chart is back on my radar.
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