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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.
The stock has support at 188.28 and 178.80. If the stock breaks down through support at 188.28 then it will probably continue lower to 178.80. The stock will meet resistance at 201.00 and 211.82. If the stock breaks up through resistance at 201.00 then it will probably continue higher to 211.82. The 200-day moving average is at 174.43. This will also act as support. The stock is extremely overbought according to the Stochastic Indicator (89.61).”
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