Still trading in range, support should come in soon next week (waiting for bullish div around $85, the dip we had last few weeks were due to china PMI data not impressive in consumer demand. Sooner or later, the govt stimmies will work its way from industrials back to the consumer economy and baba will start to price in recovery in China (possibly Q4 earliest)
look to buy below $85 when it comes, I do not expect Baba to break below 80 anytime soon. Chartwise it is structurally sound and favouring cup and handle basing with 10w ma magnet near $92.
For theta sellers, try to sell 30 dte puts strike price around 85. Roll if itm near assignment,otherwise Baba will continue to chop and trade in range.
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