01.08.2016 - Price of Alibaba Group, according to our estimates will continue to rise after the recent correction

Price of Alibaba Group has corrected to the local ascending channel's lower border and the support level at 81.80. In the near future, the growth of quotations may continue and for continued growth will be necessary to overcome resistance at 85.15. In this case, we expect a further increase in price to 90.00 and 91.20. In case of fixation below 81.80 and the bottom of the channel, we are forecasting a decrease in quotations to 75.00 and 70.30. Our medium-term outlook remains positive.

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