Alibaba (9988.HK): Trading Opportunity
Published On: 8 July 2024, 9:30 AM | Donny Lew, Assistant Manager, Dealing
Key Entry Price Pivot(s):
- HK$74.50
- Short at level HK$74.50
- Take Profit at HK$69.80
- Stop Loss at HK$67.00
- Long above HK$75
- Take Profit at HK$78.50
- Stop loss at HK$73.50
- Looking at the daily chart of Alibaba, we can see that price has been in a downward trend channel.
- Currently, price is moving at the near resistance level at around HK$74.50 and we can potentially look for a short trade at this level in a lower timeframe with confluence such as a bearish bar at the resistance level with significant volume.
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