Alibaba is overbought
Alibaba is overbought now. With a +77 RSI on it's 1 week chart and also while it's trading at the top of it's 3 year range channel. Last week, China’s central bank shared plans to cut banks reserve requirement ratio (RRR) by 50 basis points or half a percentage point and lower the seven-day reverse repurchase rate to 1.5% from 1.7%. Additionally, China agreed to let homeowners refinance mortgages. Alibaba as the key beneficiary of the stimulus. BABA is trading nearly +30% in 2 weeks. I would expect a pullback 95 - 99 per share for bulls to wait for an entry and 115 -119 levels for bears to short it.
Options data:
10/11/24 expiry
Put Volume Total 4,415
Call Volume Total 12,021
Put/Call Volume Ratio 0.37
Put Open Interest Total 50,861
Call Open Interest Total 80,400
Put/Call Open Interest Ratio 0.63
10/18/24 expiry
Put Volume Total 2,387
Call Volume Total 6,410
Put/Call Volume Ratio 0.37
Put Open Interest Total 205,644
Call Open Interest Total 234,503
Put/Call Open Interest Ratio 0.88
11/15/24 expiry
Put Volume Total 2,111
Call Volume Total 1,661
Put/Call Volume Ratio 1.27
Put Open Interest Total 60,199
Call Open Interest Total 177,252
Put/Call Open Interest Ratio 0.34
Options data:
10/11/24 expiry
Put Volume Total 4,415
Call Volume Total 12,021
Put/Call Volume Ratio 0.37
Put Open Interest Total 50,861
Call Open Interest Total 80,400
Put/Call Open Interest Ratio 0.63
10/18/24 expiry
Put Volume Total 2,387
Call Volume Total 6,410
Put/Call Volume Ratio 0.37
Put Open Interest Total 205,644
Call Open Interest Total 234,503
Put/Call Open Interest Ratio 0.88
11/15/24 expiry
Put Volume Total 2,111
Call Volume Total 1,661
Put/Call Volume Ratio 1.27
Put Open Interest Total 60,199
Call Open Interest Total 177,252
Put/Call Open Interest Ratio 0.34
הערה
3:1 trade idea
Short = 115
Stop = 120
Profit = 100
הערה
הערה
הערה
BABA hit 99 todayהערה
Trading indicators:
tradingview.com/u/Options360/
tradingview.com/u/Options360/
כתב ויתור
המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.
Trading indicators:
tradingview.com/u/Options360/
tradingview.com/u/Options360/
כתב ויתור
המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.