ejdoli
Long

BABA Going Higher!

NYSE:BABA   ALIBABA GROUP HLDG LTD
16 0 0
Way oversold! On the 4hr chart, it's trapped in a falling wedge and will likely breakout to the upside. SSE             Composite is finding a short term bottom and US markets also seem to be turning bullish for short term. BABA will have some support for a move higher.

Target 1: $71
Target 2: 50dma or $73.50 - $74 (whichever is closest resistance at the time)

Think there will be more pain before it changes its trend, but next 2-3 weeks should be heading higher!
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