$BABA looking for support in “Go” trend

$BABA looking for support in “Go” trend


April 2023


Alex Cole

$BABA is in a “Go” trend that has not really taken off.

At the end of March, GoNoGo Oscillator broke above the zero line and price gapped higher causing GoNoGo Trend to roll through amber Go Fish bars before painting aqua “Go” colors from 3/31.  Since identifying a “Go” trend, GoNoGo Trend has already seen uncertainty creep back in with a “Go Fish” bar last week.  This has caused GoNoGo Oscillator to fall to the zero line where it has remained. We see a GoNoGo Squeeze starting to build.  We also see natural support on the price panel from prior highs late last year.  A break out of the GoNoGo Squeeze into positive territory would confirm this support and we may look then for price to move higher.