BABA Trade on Nov 5, 2020 09:36 from spyrosz: Tradervue User Stock Trades.

Earnings release not that bad, except for revenue miss (but rev. +30% Y/Y).

It was getting hit remarket (-4%), selling-off right in-front of S1=$283, which was the same level that held support after the ANT IPO got postponed. Below S1=$283, there was a nice gap on daily down to S2=$279. Obvious big buyer accumulating at S1, with sellers keeping it down below R1=$292.

It was looking weak premarket, so I wanted to see if BABA can close the gap on daily today.

Opened strong, tried to break R1=$292, but got brutally rejected and rolled over back to S1=$283. At the bounce towards VWAP,

Got short Tier I, risking above the opening print=$289, expecting VWAP to hold it down, and eventually break S1 and move lower.

(-) A bit too much size too early w/o clear indication of direction, and I had to trim a bit as it held S1 and bounced higher.

However, VWAP held resistance, and BABA started creeping lower closer to S1 showing extreme relative weakness vs overall market that was rallying at the time. This gave me confidence that the name was weak indeed,

added slowly back to the short, tightening stop, risking the lower high+wick above VWAP $287.5. Added one momo tier once it broke LOD=$283.5 and moved to $283, expecting the momo break-down to S2=$279.

Covered on the way down to target.