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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 generally implies it is in a positive trend.
The stock has support at 299.00 and 283.61. If the stock breaks down through support at 299.00 then it will probably continue lower to 283.61. The stock will meet resistance at 310.06 and 336.38. If the stock breaks up through resistance at 310.06 then it will probably continue higher to 336.38. The 200-day moving average is at 231.41. This will also act as support. The stock is extremely overbought according to the Stochastic Indicator (87.11), and turning down, which suggests a pause or possible pullback, especially if near resistance. Confirm this with the Short-Term and Daily Outlook to keep from exiting prematurely.”
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