novvoll12
Short

BABA bearish – Continues to weaken, eyes $68 IPO price next

NYSE:BABA   ALIBABA GROUP HLDG LTD
98 0 0
BABA gapped lower to new lows, opening the 68.00 ( IPO price) as the next target. Below there could extend the downtrend towards the 62.80 projection (as shown on the daily chart ). The 76.21/76.15 resistance area (prior lows) should cap near-term bounces.
Outlook:
Short term: bearish
Long term: bearish
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