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Trad3r_16
Sep 12, 2023 7:07 AM

$BABA - Coiling Long

Alibaba Group Holding LimitedNYSE

Description

BABA is currently on support (blue TL) and is coiling in a triangle. One can look to go long as long as support holds with the idea of holding on for a breakout to the upside. First target would be around 103 (resistance) where the price could possibly pullback to retest breakout - then move higher to 122. Stop loss on a break below blue TL or around 85.
Comments
Livinontheflipside
Would you say a close below $85?
Trad3r_16
@Livinontheflipside, As an aggressive stop, yes. If one wanted to have a slighlty larger buffer, I would say 82
Livinontheflipside
@Trad3r_16, i just held, decided if it closed below like 82.65, i'd close out, and that ended up being an intraday bottom. time to move up! thanks man
Trad3r_16
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