BABA just broke out of its
long respected descending trendline,
with considerable volume.
Key resistance level to break is 120, breaking above will mean a surge all the way to key resistance at 180
Actions:
1. Buy the retest of trendline @ current price
2. Wait for a break above key resistance @ 120
Targets:
1. 180 (prev key support flipped resistance)
2. 230 (Big key resistance)
Right now BABA is cheaply valued for its massive potential and earnings, definitely a value buy at these current price levels !!
Definitely a stock to hold for the long term, even if you are not intending to trade it
long respected descending trendline,
with considerable volume.
Key resistance level to break is 120, breaking above will mean a surge all the way to key resistance at 180
Actions:
1. Buy the retest of trendline @ current price
2. Wait for a break above key resistance @ 120
Targets:
1. 180 (prev key support flipped resistance)
2. 230 (Big key resistance)
Right now BABA is cheaply valued for its massive potential and earnings, definitely a value buy at these current price levels !!
Definitely a stock to hold for the long term, even if you are not intending to trade it
