Alibaba (BABA) technical preview March 18, 2015

BABA shares moved away from all-time lows ($80). The post-IPO, October 2014 low ($85) has now turned to resistance. A breakout above $85 would terminate the current downtrend, targeting the January 29th gap between $92 and $98. The technical picture is still terrible, as a break below $80 would bring the shares into uncharted territory.

BABA daily chart (since IPO):


Chart courtesy of

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