Trading Opportunity – Alibaba (9988.HK)
Key Entry Price Pivot(s):
- HK$69
- Long at level HK$69
- Take profit at HK$76
- Stop loss at HK$66
- Short below HK$64
- Take profit at HK$57
- Stop loss at HK$67
- Looking at the daily chart of Alibaba , we can see that price has been in a ranging channel.
- Currently, price is moving at the support level at HK$69-HK70 and we can potentially look for a long trade at this level in a lower timeframe with confluence such as a bullish bar at the support level with significant volume.
