Looks like Alibaba is finally picking a direction and is gaining upward momentum as we head into earnings
. BABA broke a new closing high of $94.45 while also registering a TTM
squeeze green light. Sometimes its nice to find a momentum stock in its early stage before it takes off. Although I like to see more trading days to confirm a trend, I'm gong to take some risk on this one and jump in before earnings
with a stop at $90.
In recent news Jack Ma is meeting with Hollywood studios including LionsGate , Disney, Viacom, Paramount Pictures, Warner
, Comcast, and Universal to expand its movie distribution rights and possibly take a stake in the studios.