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jaxdog
Apr 8, 2019 8:34 PM

BABA Breaking Out 

Alibaba Group Holding LimitedNYSE

Description

I am already long this trade from last week on a break from the triangle I've drawn which was an early entry. I'm looking to add to the position if /when it breaks above and closes higher than the Mar 2019 high of $188.08. The first target after breaking out is the $198 area. If it can clear that area I'd look for it to test the all time highs around $210.

The weekly chart suggests a continued up trend BUT, we do need to clear that $188 area as we are in an inside month.

This is not investing advice, I post these trades to help hold myself accountable. Comments and feedback always welcome.

Trade closed manually

Closed on 4/10 @ $186.59 for a profit... It seems to be moving down on the BIDU downgrade... I will keep an eye on this for possible future entry over the $188 area.
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