BABA Squeeze Play
BABA
Today's Date 11/11/20 W 4pm
Basis: Orange PLs, Yellow TLs, Fib.
Plan: TL up is strong from April, and Orange PL 267.92 (~ = 0.618 fib) has multiple old rejections and now supports at this mark in July-Oct.
Stock has already dropped to TL and bounced UP - confirmation. Let the stock hit 267.92 PL, bounce down to TL, bounce up and BUY on bounce up from TL.
TLDR: Squeeze play between PL 267.92 and TL, Bullish.
Today's Date 11/11/20 W 4pm
Basis: Orange PLs, Yellow TLs, Fib.
Plan: TL up is strong from April, and Orange PL 267.92 (~ = 0.618 fib) has multiple old rejections and now supports at this mark in July-Oct.
Stock has already dropped to TL and bounced UP - confirmation. Let the stock hit 267.92 PL, bounce down to TL, bounce up and BUY on bounce up from TL.
TLDR: Squeeze play between PL 267.92 and TL, Bullish.
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