Alibaba Group Holding Limited Stock Code BABA.NYS
Outlook
Price broke above its recent high at $188.25 on Friday night. This averted a possible Double Top chart pattern. Price is above the cloud and above both Conversion and Base lines, hinting of a bullish uptrend. Breaking above the high with MACD bullish and rising, the next target would be the gap resistance zone from $197.84 to $200.38. First support is at Conversion line point of $183.03 and the second support lies Base line point of $180.30. If $180.30 holds, price is likely to push towards $197.84. MACD had a recent bullish crossover between its MACD line and Signal line, hinting of an uptrend.
Strategy
$188.20 Buy
$197.30 Price Target
$181.79 Risk Management Stop
3 weeks Trade Duration
Las Vegas Sand Corp Stock Code LVS.NYS
Outlook
Price managed to stay above the cloud when it went to a consolidation after a strong rally from late Dec 2018. Price gapped above the resistance to move higher and it has moved above the previous high. MACD is strong and high above its zero line, hinting of a strong bullish trend. Both Conversion and Base lines are moving higher after a bullish crossover earlier in the month. We think the strong trend should be above to move price higher to the strong resistance point at $70.08.
Strategy
$66.87 Buy
$70.05 Price Target
$64.04 Risk Management Stop
3 weeks Trade Duration
