I wouldn't personally trade this stock, but as an outsider taking a look at this stock then this is what I would do. My preferred buy would be when I see the price push/extend through the 36 zone which is a very strong resistance at present and then find support above or at 36, then I would be Long this stock. If I took a position any sooner then I would be...
I'm expecting to see the price find its way into a strong fib zone and resistance level and then maybe a sell off. I don't trade the high or lows, I wait for confirmation before I press the trigger
Looking to see some consolidation here for a bit of time or a break to higher highs (eventually). It could even break to lower lows potentially. Lets see what happens to the price action from here on in.
I expect that BABA will find support at most recent lows where my trend line is and then look to push back up from there. As you can see price has turned from a Fibonacci retracement zone above.
I didn't expect the price to decelerate so quickly into this zone but it has, lets hope that it respects this zone and then corrects in the typical A B C fashion.
