This week, you may want to keep your eye on 2 stocks:
AliBaba Group Holding LTD (NYSE:BABA) and Under Armour (NYSE:UA)
Both of these stocks are in positive trends and have seen a recent pullback from their highs. Is this a good time to buy?
Let's start with the chart of AliBaba and go through the numbers.
1. We have a +85 Trend Score as both the weekly and monthly Trade Triangles are positive, indicating a strong upward trend.
2. $120 is the all-time high for this stock and that was shortly after its initial IPO.
3. Major negative force trend line.
4.- 5. Positive divergence on the RSI line versus negative price action.
6. Breakout over the negative force trend line.
7. Trend change with the monthly Trade Triangle at $91.88.