stevenplace

Earnings Range Failed Breakdown

NYSE:BABA   Alibaba Group Holdings Ltd.
Very similar to AMZN setup. Big move post earnings, settles into a range. This one was interesting because damn near everyone was looking for the breakout but there was just a heavy offer sitting there for like two weeks.

Gap down and early weakness into the lower end of the earnings range, but that fails. An entry there gives enough cushion to anticipate the breakout instead of trying to chase the breakout.

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