*This is not financial advice, so trade at your own risks*
*My team digs deep and finds stocks that are expected to perform well based off multiple confluences*
*Experienced traders understand the uphill battle in timing the market, so instead my team focuses mainly on risk management*
Recap: My team has been following Alibaba for the past few months. We originally entered BABA on 5/27/21 at $207 per share. There is no denying the massive oversell of BABA. After correcting from its 52-week high of $319.32 BABA now sits at just $214.22 per share. BABA is a GREAT stock going forward and we absolutely believe that it will be trading in the $300 range before October.
Today my team has placed a buy order on BABA at $220. We believe that if BABA reaches $220 it will continue to push forward and have a short-term rally up to around $238 which was our original target. If price reaches $238 we will trim and wait for another opportunity to average up before BABA pushes to our first take profit at $265.
If you fail to plan...you plan to fail.
We're long.
FIRST ENTRY: $207 BUY ORDER: $220 TAKE PROFIT: $265 STOP LOSS: $203