BABA Long

Alibaba is a strong name with a major presence in the e-commerce space headquartered in China. Solid company with strong cash flows, and currently trading at a 19.6 P/E, and on the fundamental side it wouldn't be unrealistic to see them trade at a 25 P/E (conservative to the 5yr avg) given guidance EPS growth into the future. On the daily time frame, we see BABA respecting the low made and bouncing off it quite sharply. On the 24th (candles before the blue line) BABA wicked up and refused to break, they proceeded to make the wick range a new support level that has been tested and respected. A break above $190 would give it some legs in the short term. Long-term BABA is also a buy.