$BABA - What will it be? Long
Alibaba Group Holding LimitedNYSE
Description
⋅ NYSE:BABA is currently trading within a descending wedge pattern and fluctuating within a trading range of $72 to $78.
The critical support area lies between $72 to $70, and a breach below this level could potentially cause the stock to decline to the $63 area.
Conversely, if the stock manages to break out of the descending wedge by surpassing the $80 resistance level, it could rally to the $96 area.