$BABA turns bullish with exit above the Kumo

Daily Chart

• $BABA exited the cloud which is bullish
• Leading Kumo is green which is bullish
• Tenkan Sen (blue line) and Kijun Sen (red line) are above the cloud which is bullish
• Candle crossed $92.50 which was major resistance and may now become support
• $BABA may consolidate around $92.50 as traders digest the upward movement
• Chikou Span (26 day lagging green line) is above the price which is bullish
• Since Chikou Span is still in the cloud investors should be cautious
• Thin Kumo also supports caution
• Investors should scale in if $BABA fits into their investment strategy