doktor_justice

The perfect moment to short BABA

Short
NYSE:BABA   Alibaba Group Holdings Ltd.
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- Descending triangle , with back-testing the broken support/resistance
- Clear downtrend in MACD and RSI , the latter cannot rise above 50, the former ready to give another sell signal
- Target defined by the height of the triangle
- Stop defined by trendline and MA around 110
- 100 might stop the downward movement, when BABA reaches 100 stop should be pulled to entry point
- Sentiment supports short idea

Comments

Seems to go to the wrong direction, might reach stop very soon. No worries, it's part of the game.
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