BABA Trading plan
The main position will be 195, which the price will target again to create a signal. Based on RSI and MA 200,MA 50. it is neutral now. I suggest to wait until the signal appear around 195. If you wanna trade right now, i can not guarantee the price would touch 195.
The reason that the stock go long: shanghai composite is on above MA 50, and it gonna touched 3000 soon. Therefore. it could be a positive point to support BABA go higher
The reason that stock go lower: During the shape of Chart, it looks like a head-shoulder is appearing now. and I suggest short at 190 up, 195 will be the S/L price.
In general, based on tech-analysis, I prefer short the stock at 195.
The reason that the stock go long: shanghai composite is on above MA 50, and it gonna touched 3000 soon. Therefore. it could be a positive point to support BABA go higher
The reason that stock go lower: During the shape of Chart, it looks like a head-shoulder is appearing now. and I suggest short at 190 up, 195 will be the S/L price.
In general, based on tech-analysis, I prefer short the stock at 195.
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