3 Major support lines for this stock,175,165,155. God Forbid we lose support at 165 we will be looking at 155 price point but right now looks like BABA is holding for dear life at 175. We will most likely hit 165 if we do lose support at 175 and if the 165 support starts to give out we can possibly look at newer lows of 155 IF this trade war doesn't end by November. That being said this stock has been one of the most volatile stocks I've been looking at. This stocks keeps jumping back and forth from 170 to 200 in the 8 months of this year so I wont be touching the stock until it bounces off its 2 support lines or until it bottoms out to 155 worst case scenario which would then be a big buying opportunity. If it bounces off the 175 I can see 200 by the end of the year and if it bounces off at 165 I see 190s by the end of the year. And as for the 155 low I don't expect it happening and if it were it would be a must buy at that point. I'll buy BABA at 165 if it gets there and more if it keeps going lower.
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Strong down trend. 175 did not hold, 165 next target. Placing puts soon since we were already at 169 price target 2 hours in the market. Looks like September is not good month for BABA.
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165 support fell also.. 155 is next target now. Highly recommend buying now which I am doing. 160 for BABA as of now is a no brainer. And if you can get this stuff cheaper its an even better deal. Both targets met. One more to go.