We sent out an actionable report on BABA on October 21 when it was trading around 91 as we spotted a high quality in-the-base pocket pivot on that date. It is currently trading around 115. Members have asked us if it is wise to get in now. Of course, at this point, it is quite extended. But the beauty of what we call continuation pocket pivots is that even if you missed the in-the-base breakout or the standard base breakout, the stock will often issue an above-the-base 'continuation' pocket pivot if it is a true leader. Thus as BABA consolidates its sharp gains, it is best to wait for a continuation pocket pivot. We will immediately send out an email to members once this occurs.
MLR - BABA Review 11/14/14
|Published:||14 Nov 2014 16:22 ET|
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