$BABA need to hold 147+ https://t.co/kOBYHDoSzx
China names had the news overnight and $baba closed down at $135. It’s $12 higher here on our manic buying. 80% chance imho these names down tomorrow here. Am shorting some $kweb by the close.
Big breakout in $BABA for the member weekly option trade idea.. likely sees 150 next but nothing wrong with taking quick wins on a Monday
Alibaba Group Holding Ltd. (BABA) experienced a significant surge in its stock price, reaching multi-year highs on Monday. The stock hit a peak of $148.6, with traders expressing optimism about further gains, potentially reaching $150. The stock needs to hold above $147 to maintain this upward momentum. The rally in Alibaba's stock is part of a broader trend of strong performance among Chinese stocks. Baidu Inc. (BIDU) also saw notable gains, reaching $101. Investors are actively trading options on both stocks, with significant interest in Baidu's May $85 in-the-money calls, which were bought at prices ranging from $15.40 to $16.15. Alibaba's stock broke through $148.5 and is currently testing the top of the March Value Area. The surge in Chinese stocks is driven by hot money flowing into the market, with Alibaba and Baidu leading the charge. However, some traders predict an 80% chance of a downturn tomorrow, with plans to short $KWEB by the close.
