VCP
US Stock In Play: $BABA (Alibaba Group Holdings Ltd.)$BABA is caught in a 15-month downtrend channel but there could be short term upside opportunity ahead.
trading above Q2 earnings VWAP & 10/20MA. also attempted to re-capture its 50MA, with MA convergences taking place. price action behavior is very similar to oct'21 period.
ROLEX RINGS - VCP formation (IPO base)The tape has formed an IPO base.
Volume dries up as price compresses.
Tape is drifting sideways around 21 EMA.
Inside candles.
Pivot buy at 1194
SL below mother candle low @1130
Entering half qualtities at CMP 1170; rest half at buy-stop price of 1194 as having conviction that price will breakout from pivot, will exit if mother candle low is broken.
Publishing for my own reference.
Not an investment/trading advice.
GULPOLY - VCP actionStock near to pivot of VCP.
Price compression along with volume dry up.
20, 50 EMA supporting the final contraction.
Target is in multiple of risk.
1/2 can be booked 1:2, remaining quantities on break of 10 or 20 EMA depending on your sell rules.
Trade at your own risk. Only for educational purpose.
3A VCP SETUP AGAINThe short base VCP formed during Oct 2021 were not solid enough due to lack of time compression.
It experienced correction and recently have nice price/volume interaction with 3 contraction below:
C1: -15%
C2: -6%
C3: -6%
Let's monitor if this week will formed another C4 above MA50 or not.
Disclaimer:
Not a buy call recommendation. Just my personal interest on sharing through chart pattern and technical analysis . Trade at your own risk.
TCI - VCP baseThe tape has formed a VCP base after a 100% run-up.
Volume dry up on red days indicating less supply and high volumes are indication of institutional accumulation.
Tape is drifting sideways around 21 EMA and has formed an inside candle
Pivot buy at 782
SL below mother candle low @789
Publishing for my own reference.
Not an investment/trading advice.
VCP set up1. After 9 months down trend starts from Nov 2020, Kotra are setting up a nice classic VCP since Sept 2021.
2. Today making a nice breakout from VCP set up. Hope price can sustain above 3.18 and challenge 3.44.
3. Price volume from left indicated that no major resistant ahead. Easier to move north.
4. Resistant at 3.44. If successfully break, possible challenge ATH 4.50.
Cautious
1. Sustain above 3.18 will be nice. 3.07 can be 1st cut loss depends on personal risk profile.
Trade at your own risk. Information should not be considered as an offer or enticement to buy, sell or trade. You should seek appropriate advice from your broker, or licensed investment advisor, before taking any action. Past performance does not guarantee future results.