BABA Price Slumps Amid Earnings Miss, Dilution Shock
BABA, the tokenized stock of Alibaba, is trading at $117.49 on Binance, just above its lower Bollinger band after a significant earnings miss and dilution shock.
The chart shows a bearish story with collapsing moving averages above and a precarious Bollinger Band support structure below.
Momentum is flat to deteriorating, with the MACD and signal line converging to near-zero divergence, indicating that the bearish impulse has not reversed.
The Bollinger %B at 0.08 suggests that the floor is thin, and the only thing standing between this trade and a full re-test of the year's washout lows are $114.73 immediate support and $111.96 strong support.