$BABA On the monthly this is looking very bearish. Ever since the all time high on OCT 2020, we had total of 9 red months vs 4 green months. This is forming a giant H&S. I expect this to break out of down trend, fiddle around 205 for some time, then head down toward 120s. Bull case Short term play, This should break out of the trend line, scalp 150c Long term play. Buy Mar 200c calls breaks out trend line. Bear case Buy 120p Jan puts once this breaks lower trend line. Scalp 135p weeklies when this breaks lower trend line.
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