Alibaba Group Holdings Ltd.Updated BABA Breaking Out
I am already long this trade from last week on a break from the triangle I've drawn which was an early entry. I'm looking to add to the position if /when it breaks above and closes higher than the Mar 2019 high of $188.08. The first target after breaking out is the $198 area. If it can clear that area I'd look for it to test the all time highs around $210.
The weekly chart suggests a continued up trend BUT, we do need to clear that $188 area as we are in an inside month.
This is not investing advice, I post these trades to help hold myself accountable. Comments and feedback always welcome.
The weekly chart suggests a continued up trend BUT, we do need to clear that $188 area as we are in an inside month.
This is not investing advice, I post these trades to help hold myself accountable. Comments and feedback always welcome.
Trade closed manually
Closed on 4/10 @ $186.59 for a profit... It seems to be moving down on the BIDU downgrade... I will keep an eye on this for possible future entry over the $188 area.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.