Analysis of BABA (Alibaba Group). Current price is an opportunity to buy BABA. Alibaba group lays on a strong support level, and just might bounce back up. Even if my RSI Tunnels indicator is bearish, but it's in the deeps and there might be an opportunity here for a long. Stop Loss = 255 Take Profit = 300 Buy around current prices, 265-266
We can loss around 10$ (255 stop loss) per share but we can win 35$ (300 take profit) per share definitely positive risk reward ratio. Sounds like a good deal to me.
Of course, if BABA breaks the 300 price barrier , you might want to consider holding it a bit more as it can reach it's 320 range.
Soon i might publish more interesting ideas, Follow to get notified.
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Note that most of Alibaba Group previous months uptrend is because of the Apadamic, where many prefer online ordering. Reminding for you to place strict stop loss since it can fall back to the 230 prices range in case breaking down the 255 stop loss.
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BABA seems to give another signal, as it reaches the bottom line (stop loss) and might bounce, note that BABA still has room to go down to 245 so be cautious.