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Alibaba 05/04/2016

BABA 05042016

BABA (NYSE) is still in long term downtrend, within a Bearish Pennant and hitting top resistance line soon. Furthermore, MACD has shown weakness as both the lines have narrowed and ready to crossover.

Resistance is around @ 81.5.

Possible Price Retracement to around @ 72.5.

Wait for Price Confirmation.

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Posted on April 5, 2016, in Others and tagged . Bookmark the permalink. Leave a comment.

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