BABA is having a buyable gap up on a strong earnings report. The weekly chart shows constructive action over the last several months. We have been watching how it trades today and is currently trading roughly midbar. Risk at current levels would be roughly 3% if you allow it to undercut today's intraday low by 1-2%. BABA is the Chinese AMZN. They offer free shipping on most of their products due to their vast network. Earnings and sales are accelerating, pretax margin 52.3%, ROE 23.6%, group rank 17.
Buyable Gap Up - BABA 8-11-16
|Published:||11 Aug 2016 15:37 ET|
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