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
alibabaBABAChart PatternschinesestocksTechnical IndicatorsnyseStocksstocksignalsTrend Analysis

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