Alibaba Group Holding Limited (BABA) “On a long-term technical basis, the stock (BABA) is trading above its 200-day moving average which implies it is in a positive trend. However, the stock has broken through an important trendline at 213.81 suggesting the next level of support is 199.50. The long-term uptrend has now turned neutral.

The stock has support at 199.50 and 188.28. If the stock breaks down through support at 199.50 then it will probably continue lower to 188.28. The stock will meet resistance at 213.81 and 226.70. If the stock breaks up through resistance at 213.81 then it will probably continue higher to 226.70. The 200-day moving average is at 194.08. This will also act as support. If the stock closes below 198.27 a negative trend change is probable. Look for the stock to fall to the 200-day moving average at 194.08. The stock is slightly overbought according to the Stochastic Indicator (67.54).”