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Trade Alert: $BABA

opening trade

Derek William Frazier

Feb 17, 2023

Possible move to 95 underway due to accumulation before this breakdown on daily chart. Cycles are reverting back to mean. Keep an eye on it and short the first 15 and 30 minute peaks. 845 and 900 CST, watch the tape for confirmation, but the stop will be 1.5%.

A strong daily capitulation is needed to reverse higher for this stock.

EDIT later that day:

2 Comments

Feb 17Author

UPDATE 1230 CST: Moving down after breaking a larger cycle low midday today. Profits can be taken at risk, which is 99 dollar area, so 1.5% risk can be taken off and the stop can be put somewhere above the open if swinging this; if not swinging, its probable that it continues moving lower allowing a BE stop.

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UPDATE 900 CST: be aware American tech stocks are leading the charge lower today.