Baba
By:TradingView
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I think Baba is about to take a major leg up here.. So bullish technical patterns I'm spotting.
So this all started with a Fallen wedge
No we are starting to form what I think is a Right shoulder on a inverted H&S move back to 144..
Notice the circled price action? That's the previous double top neck line. Also at that 145 level is the daily 200sma .. This will be a very tough spot for bulls and Baba will not get over this area without a Catalyst (News). I'm thinking we don't get over 144 until after ER May 13th..
But in the mean time I think there is a long here to 144..
Aggressive Entry - 130
Stop loss below 126.50
Safer entry - over 50sma or 134.00
Stop loss below 129.00
So this all started with a Fallen wedge
No we are starting to form what I think is a Right shoulder on a inverted H&S move back to 144..
Notice the circled price action? That's the previous double top neck line. Also at that 145 level is the daily 200sma .. This will be a very tough spot for bulls and Baba will not get over this area without a Catalyst (News). I'm thinking we don't get over 144 until after ER May 13th..
But in the mean time I think there is a long here to 144..
Aggressive Entry - 130
Stop loss below 126.50
Safer entry - over 50sma or 134.00
Stop loss below 129.00
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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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