1. Hello Guest Do you know binary.com offers exclusive $20 No Deposit Bonus for FX Binary Point visitors? Click here to sign up

Singles Day Does Not Save BABA

Discussion in 'Technical Analysis' started by FXStreet_Team, Nov 12, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Joined:
    Oct 7, 2015
    Messages:
    27,524
    Likes Received:
    0
    Alibaba Group Holding Limited (BABA) is down about 7.5% from this morning's pre-open up-spike to 85.00 in an initial reaction to huge China "Singles Day" online sales. The technical set-up has been warning us not to trust strength off of the Nov 5 high at 86.42, which represents the completion of the entire rally off of the Sept 9 low at 57.20. Today's massive downside reversal has violated key support at 80.00-79.50-- prior lows and the 200-Day EMA-- which inflicts serious damage to the

    Continue reading...
     

Share This Page