2waytrading
Long

Bulls are under attack but firmly under control

NYSE:BABA   ALIBABA GROUP HLDG LTD
137 0 2
Hard to argue that bulls are winning if you look at monthly chart or even weekly but every damage has recovery process and it looked before two days ago $BABA was heading back to its glory             days and that hope did not fade away but being attacked specially today. Price still above 50/20 days moving average but today's volume plus yesterday's bearish engulfing did create a hole and price gave back nearly 6.5% of its recent 29% gain that will be close to 27% where many who missed recent trade will be willing to step in and buy. 60% of the day price staying at this level and few times tried to regain $70 level but market didn't help the bulls to secure that level. Now there are a few reasons to buy this stock before earning as well as the bid day event 11.11 S-day. If you want real time alerts try http://www.2waytrading.com
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