Next stop 125
$BABA-SW(09988.HK$ Short covering should have started and if all goes well, we should be able to see 125. Instituitions are upgrading Alibaba since the beginning of the year. latest being CS. Some has either started or upsize their holdings. Another sign that Alibaba is in a bullish mode. Good luck and trade safe. Support will be 104.30.
Disclaimer: Community is offered by Moomoo Technologies Inc. and is for educational purposes only.
Read more
Comment
Sign in to post a comment
Btan : Time to pull back a bit and then bounce again. Not good to keep running up without a break. This will open space for shorts
CallmejesseOP Btan: Technically you are correct because the daily bar is already out of the upper bollinger band which is an indication that if you want to sell option it a good price to sell. But I have seen this move even higher when the market is bullish especially short covering. Most of the option are concentrated around 110 so that is a price to watch. Options don’t move prices. So expect institutions to pump higher so that they can lent their shares for shorting or short covering.
CallmejesseOP : In term of risk and reward management, I personally think it is still ok to go for it if prices retrace a little. Stop 104.3 and limit 125 1:2.5 still reasonable. Just my thought. Not a financial adviser.