IndianatheGreat

BABA: Going Short Based on RSI Divergence (1D)

Short
NYSE:BABA   Alibaba Group Holdings Ltd.
Back to the good ol' divergence. As we can see in some longer-term trades on the daily chart , this stock ticker reacts well with divergence. The plan is to start shorting sometime tomorrow and hold the trade at least until it dips below 194, and then lower my stop as the price (hopefully) continues its downward moment. Of course, I will be looking at volume and news in case there is a swing, and to not hold on it too long, as I expect Alibaba to reach a new all-time high by the end of the year.

Comments