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Alibaba Daily Technical Analysis | 22 December 2017

2017-12-22 11:09 am | Resource: Technical Analysis Section | No Views : 324

Alibaba shares broke through the secondary bearish trend during yesterday's trading as it broke through the level of 174.54 $ during yesterday's trading and currently faces the stock level 176.21.

Alibaba Daily Technical Analysis | 22 December 2017

Currently, the American stock is trading in a bullish direction over the hourly interval. The moving average and the slow moving average are positively intersected and are also positively intersected with the breached trend line supporting the stockholders.
The rate of change 12 is trading in a bullish direction as it breached the minor descending trend line during yesterday's trading.
It is expected that if the US stock is breached at $ 176.21, it might target 186.56 levels on the other side, if breaching the 170.35 level might target the 164.77 level.
Support: 169.60- 164.37- 158.44
Resistance: 176.21 - 179.83 - 191.66
Trend: Up

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