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Alibaba: Potential rise to the 2019 High.

Long
Alibaba Group Holdings Ltd. (NYSE:BABA)  
InvestingScope  
NYSE:BABA   Alibaba Group Holdings Ltd.
Trend Analysis Chart Patterns Technical Indicators alibaba BABA retailer retail nasdaq techstocks stocktrading techinvesting investing
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trendanalysis chartpattern indicator alibaba baba retailer retail nasdaq techstocks stocktrading techinvesting investing
Alibaba is trading inside a very standard 1W Channel Up since June (RSI = 52.639, MACD = 1.760, Highs/Lows = 0.0000) with the Low to High legs symmetrical at +21%. If the current leg is completed on equal strength then the peak (+21%) will reach 195.50 which is the 2019 High. So if the Higher High trend line of the Channel Up breaks, be ready to extend your long positions to 195.50.




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