We looked at the charts of BABA on March 27th and wrote that, "BABA might have a brief pullback into the $190-$180 area and I would consider that a buying opportunity risking a new low close below $170." BABA did pullback as anticipated and now is at a new high for the move up from the March nadir. Let's check out the charts again.
More from Investing
While Intel stumbled, other major chip developers and manufacturers have been generally upbeat amid strong end-market demand. And M&A activity is on the upswing again.
This isn't a name I'd play aggressively into earnings, but a small gamble here could pay off in a big way.