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BABA 76.81 – neutral – Pulls back to support zone

NYSE:BABA   Alibaba Group Holdings Ltd.
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BABA 76.81 – neutral – Pulls back to support zone

BABA pulled back from its new 3-month high at 86.42 (November 5, 2015) to expose the 74.00 support area (38.2% of the 57.20/86.42 rise). Below lies the 72.84 minor higher low (October 23, 2015) near 50% of the 57.20/86.42 rise and 68.89 (October 21, 2015 minor higher low) near 61.8% of the 57.20/86.42 rise. Back over the 200 day moving average currently at 79.58 would stabilize and extend recovery towards 82.49 (November 11, 2015 high) ahead of 86.42.
Outlook:
Daily: neutral
Weekly: neutral

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