BABA: Short a retest of resistance

NYSE:BABA   Alibaba Group Holdings Ltd
We can enter short BABA if it retests the Key earnings resistance level at 77.47 in the coming days.
Stops should go over 80 to be safe, and we can target 69.28 approximately.
Many negative stories have come out in the last few days, and the stock is considerably overbought, and due for a correction, all the more reasons to short it.

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Track record: http://pastebin.com/6CyyqnPT


Ivan Labrie

Link to Tim West's chatroom: https://www.tradingview.com/chat/#c8BzrhGRvXxGXWnJ
We discuss setups like this often there. Feel free to stop by and subscribe to his indicator pack. If you have any questions ask.
Trade active
Trade closed manually: We have a muted reaction to news of a liquidation by a large share holder. Maybe it's wiser to exit here prematurely and avoid a whipsaw back up.
Comment: Stuck, but for now holding at the KEL...the best thing would be to reenter if we drop under support, for now it's not feasible to short, but also not the best of longs, so better stay flat.
Trade active: Seems like the short is back on track.
Trade closed manually: Very problematic short, not too productive.
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