Alibaba found support at 250-255usd area and bounced back to 280usd which is my December target. A retest of previous support (255usd) is possible. We should wait for MA bullish cross and break of the bearish resistance line. Daily and 4h RSI is just above oversold line.
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Bulls were trapped and are now waiting at 255 support area. It looks like a bearish downtrend is quite strong. Let's wait for a few days and see what happens. Baba is coming in oversold area which is a good sign for bulls.