$Alibaba (BABA.US)$ baba closed at 122 again. 2 weeks and ne...

$Alibaba(BABA.US)$ baba closed at 122 again. 2 weeks and never fell below 120. My put spreads sold during 117.80 low gave me a good 30% profit in 3 days as I sold it ATM during that huge drop. I had confidence it will not close below 117 by Friday based on my technical analysis.

Support at 118 and 120 holding very well and bband is entering squeeze soon. We should see some huge movements either next week or the week after. Could be to the up or down side. But based on price action, seems more probability to the upside.

As always, trade safe & invest wise!

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