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DLavrov
Jan 25, 2023 11:55 PM

Trading Idea 020: Alibaba Long

Alibaba Group Holding LimitedNYSE

Description

Market Conditions:
- bullish trend
- consolidation around the resistance
- bullish sentiment in the market

Key Level and Lines:
- $120.30 resistance

Trading Ideas:
- go long after a consolidation below the resistance
- go short if the market gives a false breakout signal.
Comments
Thnacks
Yesterday's candle looks like a hanging man with a follow through today. The MACD, RSI, and DMI may all point to a downside move. We shall see next week.
DLavrov
@Thnacks, it looks like a reversal. But I would wait for 1-2 days more.
Thnacks
@DLavrov, Do you think price fills the gap with positive earnings and/or new from the fed tomorrow?
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