WellTrainedMonkey

BABA: Accumulate at bottom of channel

Long
NYSE:BABA   Alibaba Group Holdings Ltd.
Baba is like the Goog , it isn't going away and neither is China. Baba is less about international trade than it is a domestic play. Look for policy or fiscal support as the CCCP look to soften the Trump tariffs. Stock is trading at the bottom of the channel with a potential positive MACD divergence and should consolidate around current levels before testing the channel's upper boundary around the $210 level. Stops can be placed below the channel's lower boundary for a good risk reward trade.
Trade closed: stop reached

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