5/14/2018 The US markets close mostly flat. BABA hits 200 on the penny as Chinese ADRs rally. MU and other semiconductor stocks close quite a bit higher as well.

Fun Fact #48 

Samsung did a 50 to 1 stock split recently, and shares soared as much as 8.7% as a result.  Read about that here. 

BABA hit 200 on the penny this morning, but dropped a little bit to close the day.  The daily chart looks so bullish that I’m thinking it’s a trap!  Either way, I’m holding BABA for the long term (at least a year), so small fluctuations don’t matter much to me. 

The key levels I’m watching for on the longer term perspective are a break above the all time highs at 206.2, and a break and close below 165.  

Take a look at the monthly chart of BABA below.

Please note that this month is only half over, meaning the monthly candle you see on the chart now will certainly change.  Either way, we’ve got something that looks like the rising three methods candlestick pattern.