$BABA Potential Bullish Reversal, (Daily TF)

26 dic 2024

12/25/2024

Alright, I know there's a lot here so let me know if you have any questions and I'll do my best to answer. This is for educational purpose only.

1. Price dropped 18% ($101 -> $82.64) in 15 days.

2. Triple resistance on Tue, Nov 19 & Fri, Nov 29 & Tue, Dec 17 @ ~$87. Resistance zone between $86.70 - $87.75.

3. Bearish Fibonacci (Dec 9 - Dec 20). Anticipate sideways movement around 0.382 ($86.44), 0.5 ($87.91) and 0.618 ($89.38).

4. The light-brown boxes and light-brown line highlight the potential movement of price.

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$85.52: Current price
$85.00: Next bearish price target

Bullish Resistance Points:
$86.44 - 0.382 Bearish Fibonacci (potential daily sideways movement)
$87.00 - Resistance zone
$87.60 - Previous Weekly High
$87.91 - 0.5 Bearish Fibonacci (potential daily sideways movement)
$89.38 - 0.618 Bearish Fibonacci (potential sideways movement or reversal)
$91.44 - 0.786 Bearish Fibonacci (potential reversal)
$90.56 - $91.83: Bullish Gap to be filled

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Currently in a play: BABA 21 MAR 25 110c @ $1.24
Currently up 5% (@ $1.31).
Profit Target: $2.24 (contract price)
Stop Loss: n/a (manually monitoring for now)

7 gen

Nota

Aye everyone, still holding this baby.

BABA price has been hovering between $83 and $87 for the past 7 days.

Contract price has hovered between -10% and +10%.

Today, contract price jumped to as high as $1.35 (+9% from entry contract price) but closed at $1.17 (-6% from entry).

31 gen

Trade chiuso: obiettivo raggiunto

After being down over 60% on the contracts, I finally closed the BABA 21 MAR 25 110c @ 2.90 for a 134% win.
$124 -> $290 =$166.