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Alibaba Daily Technical Analysis | 6 February 2018

2018-02-06 07:17 am | Resource: Technical Analysis Section | No Views : 363

Alibaba is trading in a bearish direction on the 60-minute time frame as a result of the break of the rising trend line during trading, as the stock broke the 187 area, confirming the trend turned bearish.
 
Alibaba Daily Technical Analysis | 6 February 2018

The SMA is crossing negatively with the slow moving average, which is supporting the sellers.
The rate of change 12 is still trading in a bearish trend in formation, but the trend is weak as the sellers' momentum is beginning to decline.
It is expected that, if the US stock break the break of 180.64 might target levels of 172.77 on the other side in case, a breach of 183.33 may target the level of 195.50.
Support: 180.64 -169.60- 164.37
Resistance: 185.61 - 191.66 - 195.28
Trend: Down


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