It seems like BABA has 10 dollar per share as profit if buying this stock to 195. The reason is recovery from previous SALE, or correction. But you probably need to focus on 189, because of testing MA 200. Otherwise, it has more opportunity to go up.
If the price turns down, just set short position, target on 177.
Hello my friend, thank you for you help, great price for buy would be 189?
Thank you
jichen7777
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@LDAMATO, welcome, actually, base on my knowledge, BABA is in correction now, i probably believe that it is going to down, because SPX 500 is on 2793 which is a resistant point; i am waiting what will happen in next hours. If SPX break and up above 2793, then, market would touched another high level; in this case, i would suggest buy at 195, target 208 or 209. Trading BABA, you also need to see Shanghai composite. Shanghai has move above on 2780, it probably go up and back to 3000 level soon, that will be a positive news for BABA. In general, Wait for SPX move, then prepare next trade.
LDAMATO
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And if i want to buy baba would be better on 185 and wait to the 195 for a sell i mean in short term?
Thank you
jichen7777
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@LDAMATO, i guess the recent price is good to buy, and sell at 195. you can wait until the price back 185, 185 is the prefect position for this plan. Myself has created the position around recent price. Buy the way, 183 will be the S/L position
LDAMATO
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@jichen7777, Thank you very much , i think the same buy in the range of the 183-185 would be ok and sell it around the 195.
Thank you for the idea.
jichen7777
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@LDAMATO, welcome, hope you can make money from that. Be careful the Non farm payroll around 8:30 tmr
You mean its good to buy around the 185 and sell on the prices of 189?
Thank you for the idea.
jichen7777
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@LDAMATO, NO, I mean if the price turn from the 189 and go down, you probably need to protect your profit, it is risk control. Actually, i guess BABA could break 189. set the position 185 and target on 195, that will be my idea.
Thank you