ALIBABA trading in an ascending channel? 25% potential GAINS
ALIBABA is clearly trading in an ascending channel. So far it has bounced off the support line.
As u can see there are two ascending channels I have drawn. I hope ALIBABA will break through the first channel (mid white line) so that it can/ might grow to a 25% gain.
My idea is buy at the support, take profit at the first resistance/ take profit at the top.
Stop- loss 5% ish beneatth the support line.
What do you think?
As u can see there are two ascending channels I have drawn. I hope ALIBABA will break through the first channel (mid white line) so that it can/ might grow to a 25% gain.
My idea is buy at the support, take profit at the first resistance/ take profit at the top.
Stop- loss 5% ish beneatth the support line.
What do you think?