23.09.2015 - We expect the fall of Alibaba stocks
The price of Alibaba after upward correction within the downward channel has resumed fall and reached a local minimum at 61.00. The breaking of this mark will be the basis for a further decline with the objectives at 56.00 and 53.00. Growth is limited by the levels of 68.00 and the top of local downtrend channel. Our medium-term outlook is negative and we are waiting for a sell signal to open short positions.