Hello traders everywhere. Alibaba Group Holding Limited (NYSE:BABA) issued a NEW green monthly Trade Triangle on Tuesday (1/9/18) which means it could be time to go long the stock. Now, if you missed the alert or didn't see the Trade Triangle yesterday, the price action today has given you the perfect opportunity to enter the trade at a lower/better level on a bit of a pullback.
I believe that Alibaba is one of the more attractive stocks of 2018 based on the fact that it is the Amazon of the East, except it is growing faster and trading cheaper than Amazon. I look for Alibaba to produce another great year on the back of a truly impressive 2017 where we saw it produce an impressive 78% gain.
Key levels to watch this week:
S&P 500 (CME:SP500): 2,673.61
Dow (INDEX:DJI): 24,697.11
NASDAQ (NASDAQ:COMP): 6,907.01
Gold (NYMEX:GC.G18.E): 1,308.90
Crude Oil (NYMEX:CL.F18.E): 61.37
U.S. Dollar (NYBOT:DX.H18.E): 93.55
Bitcoin (CME:BRTI): 12,291.06