Sunday Prep 8/22 - $BABA

Really impressive how far this has come in. Typically I keep china names off the Sunday Prep, but I think this is becoming quite the opportunity. We have now retraced to the 61.8% fib level


Will be watching for capitulation down into that quarterly pivot area of 144-145. It may gap up in which case I will possibly look to get long and risk Friday’s lows.