BABA breaking out of its pennant patter on daily and weekly

Feb 19, 2019

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 :-).

Feb 19, 2019

Trade active

Filled.

Feb 26, 2019

Note

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.

Feb 26, 2019

Note

Moved stop to 15.20 to lock in ~88% on the calls.

Feb 28, 2019

Note

Moved stop to $16.70 to lock in 107%. Will consider taking profits the next 1-2 days.

Mar 9, 2019

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.