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Alibaba Daily Technical Analysis | 18 January 2018

2018-01-18 12:58 pm | Resource: Technical Analysis Section | No Views : 275

Alibaba broke the uptrend line on the 60-minute timeframe and the downtrend continued to break below 185.61 and continued to fall as far as $ 184.64, the region that managed to stop the stock's bleeding as buyers concentrated and pushed them out of the region.

Alibaba Daily Technical Analysis | 18 January 2018

So far, the stock is trading in a bearish direction, retesting the broken trendline, and the moving average with the slow moving average is negative cross and has been confirmed.
The rate of change 12 is trading in a bearish direction and breaking the ascending trend line supports this decline.
It is expected that, if the breach of the American Web site fails to penetrate the area of ​​185.61 or break the area may target 179.01 levels while in the case of a breach of 185.61 may target the level of 191.66.
Support: 180.64 -169.60- 164.37
Resistance: 185.61 - 191.66 - 195
Trend: Up

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