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Alibaba Daily Technical Analysis | 3 November 2017

2017-11-03 03:07 pm | Resource: Technical Analysis Section | No Views : 302

Our view of AliBaba was neutral, as the stock failed to breach the 188.79 level and failed to breach the 184.65 level. The SMA is breached negatively with the slow moving average and needs to breach the $ 183.32 level to confirm this.

Alibaba Daily Technical Analysis | 3 November 2017

Looking at the chart above, you see a classical pattern of a negative head and shoulders forming at the 60 minute interval and the point of sale with a break of 183.32.
Rate of Change 12 Break the trend line during the trading Wednesday, and is currently trading down the level of travel as a result of sellers control of the US stock.
It is expected that, breaking Alibaba share level of $ 183.32 may target levels of 177.66.
Support: 176.21- 179.83 - 184.65
Resistance: 188.79 - 194.59 - 200.61
Trend: neutral

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