BABA Earnings report next week. Expecting the report to beat market expectations with good growth outlook for 2018. Should boost the stock again.
yang.qiu.data
⋅
damn... stucked long @175 and @178, it arrived my previous level 169.5....should have hedged when market give a lot of opportunity to exit lol :( . tomorrow will be important...
cgrattray
⋅
@yang.qiu.data, looking good so far. Lets hope it keeps going
yang.qiu.data
⋅
@cgrattray, yeah it's going good, but i lost all my trade when i was sclaping today.. forget to set stoploss and get stuff juste when powell news came out, and seeing that i kept long and came through all this week i don't want to cut short with loss. result is i can never cut it..... so I close all look for reenter.... :( so disappointed .
yang.qiu.data
⋅
hello, kind of break the trendline these days i think? any update about this. i'm think of Head and shoulder pattern which will send this to 167. But some how 174 is the 61.8 fib of recent up move, hope get some resistance here. Also i found another trend line which is around 170-171....
cgrattray
⋅
@yang.qiu.data, Yeah. Hard to say where it is going now, but a healthy correction I would say. It’s down proportionately with the rest of the tech sector (not BABA specific news) and reflects how well the stock has done recently, given that its down more than the others. Microsoft, Google and Amazon are expected to beat Wall St earnings estimates when they report this week, which will push the tech sector back up again and BABA with it. I’m buying the dip.
cgrattray
⋅
@yang.qiu.data, I would be very surprised if this goes to 167. That would mean a large correction for the tech sector during an important earnings week with three FANG stocks reporting. Netflix already reported with a nice beat. Tech is expected to do well this earnings season.
cgrattray
⋅
@cgrattray, Correction: Two FANG stocks plus MSFT.
yang.qiu.data
⋅
@cgrattray, yeah, 167 sounds too low, but maybe 170-171, there's a good trend line there. yesterday is quite scared... already touched 172.8. I'm thinking that if it can enter this level, the buy pressure will be harder. but the question is how the tax reform + the rate hike...