BABA – Double Top Neckline Breakdown Confirmed | Bearish Candle

12 lis

Alibaba Group Holdings has executed a clean breakdown from the double top neckline at 160.00 on the 1-hour chart, with a decisive bearish displacement candle sweeping liquidity and confirming the reversal. The prior uptrend from the 120.00 strong low has now flipped, as sellers dominate with multiple breaks of structure to the downside.

The breakdown followed a weak high at 184.00, with the neckline zone (159.50–160.50) flipping to supply on the retest. Price accelerated lower immediately, forming lower highs and absorbing buy-side stops below the pattern base. Volume spiked on the bearish candle, while upside recovery attempts remain shallow, reinforcing distribution and the shift to markdown phase.

Current price is consolidating beneath the broken neckline, now overhead resistance. As long as price fails to reclaim 160.50 on a closing basis, the path of least resistance remains downward toward the measured move.

The bearish trade is active – hold for full target progression. A clean close above 160.50 would invalidate and prompt an exit.

Technical Target Levels
First Target: 142.00
Second Target: 131.00
Third Target: 119.00

Traders in the position should trail stops to 160.50 (breakeven) to protect gains. Monitor 5-minute retests of 160.00 for short continuations with tight risk above the zone.

This analysis is based purely on price action and structural behavior. It showcases the power of confirmed double top breakdowns in stock markets when driven by volume and key level breaches.

This is not financial advice. Always use proper risk management and follow your trading plan.

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13 lis

Zlecenie aktywne

breakdwon done trade active