BABA has a bullish gartley pattern here while its peer JD.com is having some troubles recently. As it's actually not really a systematic risk on the sector but some personal affairs, it may create some buy-low opportunity for BABA.
Based on the pre-market movement, BABA currently is at the 167.00 fig spot. Of course I have no intention to catch the falling knife, so I'll be waiting for intraday reversal sign off the open. Even if this bullish pattern failed, 160-163 gap of BABA is still very attractive to take some long, which will be another spot that I am interesting in potential reversal signs.
Let's see how it goes!
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it didn't give any reversal sign and broke down the pattern, the pattern trade cancelled;
While it hit the 160-163 gap and bounced a little bit, that makes me still interesting in looking for long trades today.