Simple Trading BABA — Revisiting A Stalk Candidate 13 July 2015

BABA W 13 JULY 2015

Current Trend (W): Down

Abv/Below Value Zone: Below

Next Scheduled Report Date: 12 August 2015

52 Week High: $120.00

52 Week Low: $76.21

Current Relevant Resistance: $95.06

Current Relevant Support: $76.21

Recent Close: $76.21

Comment: On 29 May 2015, I wrote a post suggesting BABA could be a good reversal play not unlike the Weekly reversal put in by FB in late 2013.  The “bad” news is that play was stopped out last week at $77.76.  The good news is a new setup confirmed today.  Look for a pullback to $81.51 for a long entry.  If taken into a trade, place a hard stop just below $76.21.  As always, limit your risk to a small portion of your account by limiting your position size.

Have fun.

KIS,

The Trader