Hey guys, Let me know what ya'll think bout buying $Alibaba(09988)$
Price is at the ichimoku and stochastics trendline support. On top of that, it's on a graphical horizontal support where the 50% Fibonacci retracement is. Seems like a strong support zone and I'm hoping price bounces off 156.4 to 165.1 where the horizontal swing high resistance and 38.2%Fibonacci retracement is. I'll have my stop loss at the 61.8% Fibonacci retracement at the last support level at 151.2. In case I'm wrong, I'll be able to get out of the trade fast! If this set up is right though, it's a 1:2.3 risk to reward.
Entry:156.4[Smile]
Take Profit:165.1[Miser]
Stop Loss:151.2[Cry]
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