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Alibaba Group Holding Limited, BABA
Price Action has been bounced off moving average, 20 MA from last December and stay below 20 MA just May this year. May is the lowest since IPO, thereafter price action crossed the MA.
After the high in May, the price action again deep below MAs again.
Can a big handle form? Will see.
Price action is below MAs, the price is bearish bias.
Chart worth a thousand words, will resistance turn support?
Have fun!
Alibaba Group Holding June 23, 2015
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Moses
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