Vipshop Holdings Limited (VIPS) “On a long-term technical basis, the stock (VIPS) is trading above its 200-day moving average which generally implies it is in a positive trend. However, the stock has recently broken down through an important fibonacci fan trendline at 20.55 suggesting the next support level is at 19.09. This weakness suggests the long-term uptrend is turning neutral.

The stock has support at 19.09 and 17.72. If the stock breaks down through support at 19.09 then it will probably continue lower to 17.72. The stock will meet resistance at 19.55 and 20.55. If the stock breaks up through resistance at 19.55 then it will probably continue higher to 20.55. The 200-day moving average is at 16.99. This will also act as support. The stock is slightly overbought according to the Stochastic Indicator (66.39).”