Alibaba (BABA) announced that they are going to split the group into six companies. The stock (BABA) gapped up and after a brief test of its morning lows around 92, it went above its intraday VWAP, set up, and provided a low-risk entry. Then it trended higher for the rest of the day while most tech stocks were under pressure. It has the potential to continue higher tomorrow on a red-to-green move. This is how we played it:
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