Long

BABA

Updated

BABA reversed around the $171.07 pivot when the market dropped on Monday, then it jumped again above $176.80, yesterday it a hit a high of $179.34. ~Next resistance is @ 182.50

Note

Right to the target!

Congrats!

Note

Follow up: It had a decent 3-day move from Monday’s drop around $171.07 pivot. It hit a high of $182.88 as I mentioned early morning. It might be hard to buy here but that doesn't mean it is short.

Trade closed: target reached

Target reached on Thursday as mentioned earlier and then on Friday it gave a chance to trade it from green to red, today's. Closed today at 177.53 which is nearly to the support at 176.80 as mentioned above.

Have a plan with each trade you enter so you do not get caught!

Have a great weekend!

Note

looking much better now and bounced into the $182.88 resistance area. Now you can use $177.50 as a support level and trade against it.

Wish you all the best!

Trade active

isn’t acting special. It’s below all moving averages and lost the 200 day. $170 is critical channel support. If it breaks and closes below, it would be a bad sign for Chinese names. Gap to fill at 161 - 160 area

Note

What did we say about BABA it needs to "BREAK BELOW AND CLOSES BELOW then 160 is the gap fill, it printed a low at 166.64 fading from the open at 170.52 then it bounces back and closed at 170.22 CRITICAL CHANNEL SUPPORT.

Lets see what will happen tomorrow, I will put a note in here to update you!

Good luck!

Note

As said previously,

it held big channel support. Printed a low at $166.60 before bouncing. Chinese names were weaker last night. If it can get and stay above $171.30, there’s room to $175, if it could not then 170 breaks and stays below will trigger more downside movement.

Note

BABA nearest the target 174.18 high

Be careful!

We have AMZN tonight! Despite the weaknesses in Chinese Names.

Note

BABA closed the above mentioned area around 175, closing at 177.14 pushed by the news on BABA on Friday!

Congrats again!

Please if you find my analysis helping!

like and follow!

CH44

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