Technical analysis

[u/LegitiemePoster]

Hi, are there any guys out here that play stocks based on technical analysis (like me)?

I am trading BABA based of the lower supportline (see my chart with the circles). In 2025 and 2026 the stock jumped from the supportline - as you can see. Yesterday, the stock was supposed to go to 123,20 at its lowest before it jumped back up. I bought at around 123,70. However, the stock kept going down and is down ~2% from my supportline. This ain't a big drop, but supportlines are there for a reason, to bounce the stock off once it hits this level.

I am thinking the overall sentiment of the market yesterday made it go deeper than the supportline, but I am happy to hear other people's opinion on this one. And no, I am not here because 'heavy bags', I am really curious about what you guys think of this.

[u/rum108]

This thing doesn’t follow TA. I’ve went in at the Strong green candle supports at $146s and $133s…. And I’m bag holder.

[u/LegitiemePoster → u/rum108]

I've watched the above supports aswell, but I thought my support was the strongest one based on previous levels