BABA
BABA Spike: Dead Cat Bounce?I've been watching NYSE:BABA over the past week as much hype has surrounded its recent fall. There has been a lot of bragging about profits made on the dip buy and if you've read my posts for long enough you know my cardinal rule, especially when it comes to options, is "if you're bragging, you should be taking profits!"
I'm not one to jump in just to be contrary but the stock price did exhibit a bearish spike at a major resistance this morning. This sets up a play back down to retest the recent low.
I did not like the Single options as they are volatility elevated so I went with a Vertical Put spread to express the trade.
lets go for 238,8 today at hangseng!todays aim is to hit and overtake 200 MA , my price target hit is 238,8.
the conflict between chinese govermnent and Ant group is getting reach a solution step by step
Possible short term rebound. Then $190 till Weekly 200 EMA.Updating my previous idea:
IMO it's possible to see a short-term rebound till $240 where the confluence of fib. retracement 0.5 (ATH to march '20 low) and fib. retracement 0.618 (ATH to dic '18 low) are.
Then, expecting more downside until aprox. $190 were the Weekly 200 EMA is. Just before the february earnings where trend reversal is possible if strong growth continue .
My last short Price Target was perfectly touched.
Thoughts?
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Alibaba (BABA)BABA dropped about 30% since its highs back in October. With all the news going on, we think that the CCP will protect/defend BABA at all costs. As BABA approaches a support level, we think this offers an good entry point to build a position.
BABA trying to break resistance Will BABA break above resistance next few tries? Growing signs are showing. Higher lows baby!
Disclaimer: this is not financial advice.
#BABA - long
Rising wedge / Parallel Channel / Trend Line.
Strong support around $210
Hidden divergence is about to be confirmed.
Target: ~ $350
BABA LOOKS ATTRACTIVE AT THESE LEVELSBaba is now at 2018 levels and looks very attractive.
I'll focus only on Ichimoku weekly.
The tenkan and kijun are acting as support for the lagging span.
The price has reached the top of the cloud, which is acting as support.
Not a bad place to enter a long term trade, with a stop loss at the low of the day.
BABA Clear this one going back up very soon. Don't Miss Out IMOThis one filled the gap at $216.50 on Thursday last week. This is the gift that AMZN never gave us to get back in. If you're a seller or short seller here then I just can't talk sense with you. This thing is about to increase it's revenue growth a ridiculous amount with the new cloud storage business they are ramping up. The news cycle will inevitably change and die down and then they will start to ramp it up again. The ability to get this down here is a last chance type of deal in my opinion.
Happy hunting.
(I'm long with shares and calls)
Not trading advice.
LONG BABAExpecting bounce from extremely oversold weekly and daily levels. If stop breached, be prepared to catch new daily reversal on lower levels with a tight stop.
Alibaba might pull back before further drop! As the investigation on BABA is still on, the worries is keeping a cap on $baba share price. But technically, BABA is lacking a major pullback to the resistance and this could be a good opportunity to short from .
