(Total Views: 897)
Posted On: 04/22/2017 4:28:46 PM
Post# of 267
Shares of Alibaba Group Holding Ltd (NYSE:BABA) have been ripping higher over the last few months. The Chinese company has jumped from $86 in late December 2016 to its current high today of $113.17. There have been no significant pull backs in the stock during the entire run. Many investors are salivating over the idea of shorting Alibaba. This is unwise until the stock hits $120.00. At $120.00 Alibaba Group Holding will hit a double top at the all-time high from 2014. This will be mega resistance and a great short level. Smart investors are traders are already locking in the level and will expect a bigger than 10% pull back.
(0)
(0)
I was trained as a psychologist, then I applied what I knew to stock trading. Stocks are representing emotion of those who buy/sell them. I post all of my trades on Insert-tag-hereVerifiedInvesting.com where they are confirmed for legitamacy by their independent verification system. I've been trading since the 90s.
