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Alibaba Daily Technical Analysis | 16 November 2017

2017-11-16 11:36 am | Resource: Technical Analysis Section | No Views : 287

After a period of dull trading around the level of 184.58 bounced the share of Alibaba close to the level of 188.79 failed to penetrate, therefore fell the break of the rising trend line and also the level of 184.58.

Alibaba Daily Technical Analysis | 16 November 2017

Currently, the website is trading in a bearish direction confirmed by breaking the 181 level during yesterday's trading, and the moving average and the slow moving average are crossed negatively.
The rate of change 12 is trading in a bearish direction and the main trend remains bullish.
It is expected that the break of Alibaba shares level of 179.83 $ may target levels of 170.70 on the other side in case of breach of the level of 181.82 may target the level of 186.40.
Support: 179.83 - 176.21 - 169.60
Resistance: 184.65 - 188.79 - 194.59
Trend: Down

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