Going Long on BABA off 3 things:

NYSE:BABA   Alibaba Group Holdings Ltd
196 5 4
1) bounce off daily Key Earnings Level (see Tim West).
2) bounce off 71.5 fib (drawn from low of green triangle to the top).
3) spike on Vix             Fix indicator (see lime green line).
I'm no genius but check out how its respecting the 104-105 level?
I am long BABA too but today's candle looks like a doji. The BB are compressing too and could break out shortly.
Thanks Doug! Appreciate the advertising of "Key Hidden Levels" too! Cheers to you! Tim
+1 Reply
Nice rebound ;)
dougl1965 PRO IvanLabrie
Thanks! I might be a bit early here? Time will tell. I saw someone else post a chart they said they couldn't see why there was support around the 104.75 area. So I popped some things on a chart and it became obvious.
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