Alibaba Daily Technical Analysis | 16 November 2017
2017-11-16 11:36 am | Resource: Technical Analysis Section | No Views : 287
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
Shares on Wall Street began the first trading session of the week low after an attack on two facilities of Saudi Aramco, cutting the oil giant's production in half. The United States accuses Iran of being behind the attack, while Tehran has denied the allegations. It is reported that the incident will delay the initial public offering of Aramco. At the same time, more than 49,000 GM workers began a…
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