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Jan 19, 2017 7:23 PM

BABA looks impulsive Long

Alibaba Group Holding LimitedNYSE

Description

Want another try. First target $100. Ultimately, we should be able to see new highs.

Trade active

First target is met. Closed equity position and bought 102/110 bull call spread using all profits. Wait for further upside.
Plan to buy back the short leg if I can see a meaningful pull back.

Trade closed manually

It takes longer than I anticipated and have a rising wedge shape. I would take the little profit and see which side it will break.
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