BABA Tests Key Support into "Singles Day"

In the past hour of trading, Alibaba Group Holding Limited (BABA) tested, and so far held its Sep-Nov support line, now at 79.90, as well as its slightly up-sloping 200-Day EMA, now at 79.58.

That said, the real question is whether or not BABA can reverse and rally strongly off of the 79.90/60 support zone?

Today's close will be important, if only because "Singles Day" (tomorrow) has created all measures of huge sales expectations.

Let's see if and for how long BABA can hold key support.

  Matched “”
x
Try Us Free For 14 Days!
  • In our live, interactive Trading Room, we identify trading opportunities in ...
  • Equity Index Futures
  • Index & Sector ETFs
  • Individual Stocks
  • Precious Metals
  • Energy
  • Forex
  • Treasuries
  • International Markets
  • And Much More
Join MPTrader Now!
Veteran Wall Street analyst and financial author, Mike provides detailed and timely analysis and trade set-ups on a range of markets. Read more...

Have Mike's “Out Front” morning analysis delivered FREE to your email inbox twice weekly!