BABA breaking out of its pennant patter on daily and weekly
Updated
BABA is breaking out of its weekly and daily pennant pattern so put in an order for March 165 calls limit buy 8.10 with stop at 6.10. Target is 180-182 on the share price.
Let's see if we get filled :-).
Let's see if we get filled :-).
Trade active
Filled.Comment
Moved stop on calls to lock in 2.5R at 13.10. Might take profits tomorrow depending on price action since the first target was hit. 186.50 would be the next near term target.Comment
Moved stop to 15.20 to lock in ~88% on the calls.Comment
Moved stop to $16.70 to lock in 107%. Will consider taking profits the next 1-2 days.Trade closed: target reached
Took profits on March 1, 2019 when the inverted hammer formed at resistance. Sold the calls for $22 or ~170% profit.Disclaimer
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