BABA - 9.19% Potential Profit - Bullish Rectangle Breakout
Clear uptrend Support with a Bullish Rectangle formed within.
Target price set at a new potential resistance line.
- Historical uptrend
- RSI + Stoch well above 50
- MACD above Signal.
Suggested Entry $266.78
Suggested Stop Loss $259.47
Target price $290.81
Note that I tend to adjust stop losses in order to secure profits early and preserve capital. This means that the target price is going to be achieved as long as there are no strong pullbacks that trigger my new adjusted stop loss.
Target price set at a new potential resistance line.
- Historical uptrend
- RSI + Stoch well above 50
- MACD above Signal.
Suggested Entry $266.78
Suggested Stop Loss $259.47
Target price $290.81
Note that I tend to adjust stop losses in order to secure profits early and preserve capital. This means that the target price is going to be achieved as long as there are no strong pullbacks that trigger my new adjusted stop loss.
Order cancelled:
The trade didn't go through.
The entry price was in fact established to avoid getting into a trade that would turn against you.
China-US tension and the overall tech pullback today due to profit-taking turned against us.
The entry price was in fact established to avoid getting into a trade that would turn against you.
China-US tension and the overall tech pullback today due to profit-taking turned against us.