Alibaba BABA stock has triggered long with with 200EMA as a support. At the moment as long as the stock hold above the 200EMA I will be comfortable with the trade till the Target hit.
You can enter now or wait for a retracement towards 170. Personally Im long from 166 levels from initial signal.
If this has a End Of Day close below the 200EMA and break that candlestick, I would come out early.
For the moment Target is 184 to 189
Stops - 159 or close below 200EMA
You can enter now or wait for a retracement towards 170. Personally Im long from 166 levels from initial signal.
If this has a End Of Day close below the 200EMA and break that candlestick, I would come out early.
For the moment Target is 184 to 189
Stops - 159 or close below 200EMA
Trade active:
Alibaba is stalling in these areas 177-180, Im going to monitor this close as this stock can lose its momentum to the up side. Still no change to the targets trade...
We have 200EMA around 168 levels which will act as a support for the trade.
For more advance traders,you can look to take half the position close at 184 and keep a tight stops below 164 (recent lows) to protect the trade.