Alibaba Breaking Above Downtrend Line

By | December 17, 2014

Shares of Alibaba Group Holding (BABA) pulled back from their November high to a 50% retracement of their historic range. The downtrend line created by the one month decline was broken in today’s session. A close in upper candle range above the trend line is a long entry point, with a trailing percentage stop.

46. BABA chart

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