BABA's weekly Kijun line (shown in red) continues to function as solid support, with the buy order cluster maintaining its defensive position below the price. The market is currently caught in a tight squeeze between the Tenkan and Kijun levels, creating a compressed trading range. This consolidation phase is worth monitoring closely as it typically precedes a significant directional breakout.
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BABA's weekly Kijun line (shown in red) continues to function as solid support, with the buy order cluster maintaining its defensive position below the price. The market is currently caught in a tight squeeze between the Tenkan and Kijun levels, creating a compressed trading range. This consolidation phase is worth monitoring closely as it typically precedes a significant directional breakout.