bottlemessenger
Long

Possible bull flag still intact for $BABA

NYSE:BABA   ALIBABA GROUP HLDG LTD
36 2 1
Clear channel down. Entries above $92.50
timwest PRO
2 years ago
Nice chart. Two quick questions: How would you recommend targeting upside potential from this pattern? And if you buy at $92.50, where would you place a stop loss? And one more question: Would you consider putting the answers to those questions as info on every chart you publish?
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bottlemessenger timwest
2 years ago
Hi Tim, I don't normally put entries/triggers on my charts as there are many ways to play this and it is ultimately dependent on what risk you're willing to take. On bull flags, many will take a point above the higher of the two orange lines (hence playing a breakout). But be wary that the high on 22 May ($95.06) may become a point of resistance.

As for a stop loss, again, depends on your risk appetite. Many will place just below the lower of the orange lines for the flag, so extending the line over to tomorrow (29 May), it would be around $89.50, or just below $89.30 which is a defined support/resistance line.

Anyway, different people play it in different ways. So work out what works for you and you'll be sailing. Having said that, I'm very overweight on BABA on my portfolio, so I do not yet know if am going to play this one.
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