This is an interesting one. It go whacked after earnings and has rallied ever since. Last Friday it had very strong move from the 314-316 level, and I am looking to buy should we get there again. I think there will be weak longs with stops below 318.03, which makes it an interesting trap trade too.
Alibaba Group ($BABA)
BABA has been on a tear lately and is pulling back. There are three zones where I am looking to trade – in the 108, 104 & 98 areas.
Another strong tech stock that looks good on the higher timeframes. I like the look of the gap fill area at 59.13.
I love Google as a company and I use many of their products, but the stock has lost it’s mojo of late. Having said that, I am looking at a sneaky little area at 533 for a swing long. I believe $GOOGL under 600 is a bargain, so I’ll be swinging and adding to a long term position trade there.
Lululemon Athletica ($LULU)
The LULU weekly looks like it has put in a bottom so I am looking to get long on a pullback. I like the look of the 41.50 area as a nice clean entry point.