2waytrading
Long

38% upside potential next 12 months

NYSE:BABA   ALIBABA GROUP HLDG LTD
81 1 2
The upcoming learning may provide the momentum needed for the stock and finally breakout above recent swing upside resistance $85 with stop loss at recent swing low $65
It bounced. Sort of. And like so many other stocks now, BABA is in a downtrend on the weekly. If gets enough momentum to the gap above, $80 is a good price to short it at, with a target to cover around $50, possibly with getting in and out during between those two prices.

I hope this contrasting comment doesn't bother you. I sure don't know much about the fibonacci trading style.
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