From the last post on this trade we were looking at the potential for BABA to run to $185 or greater, which was the shaded yellow zone near the 50 -period moving average
The goal is nearly achieved. But because its waning momentum I would think we are close enough to take profits.
The origin of this sell-off from 4/3/2018 came in at maybe 0.05 to 0.25 from current price and that leads me to believe that the run could be in for a pullback, but if it goes even higher we can always move up the stop and close the position gradually.
Wednesday, April 18, 2018
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