Alibaba Breaks Final Level of Fibonacci Support

By | January 15, 2015

Alibaba Group Holding (BABA) has pulled back about 20% from its November intraday high to today’s low. The decline had seen temporary support at the 38% and 50% Fibonacci retracement levels of its historic range but they failed, and today the stock price penetrated the 62% level. BABA is entering a support vacuum.

15. BABA chart

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.