Alibaba Group Holding Ltd (BABA): Bullish Expected Move: 7.84% 07/12/2017...

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Thursday, 07/13/2017 11:00:03 AM

Thursday, July 13, 2017 11:00:03 AM

Bullish Expected Move: 7.84% 07/12/2017

Recognia has detected an "Upside Breakout" chart pattern formed on Alibaba Group Holding Ltd $BABA on NYSE. This bullish signal indicates that the price may rise from the close of 149.00 to the range of 157.00 - 159.00. The pattern formed over 23 days which is roughly the period of time in which the target price range may be achieved.
Alibaba Group Holding Ltd has a current support price of 142.20. No resistance level has been found.

An Upside Breakout is considered a bullish signal. The technical event occurs when the price of a financial instrument breaks out through the top of a trading range, indicating that prices will rise over a period of days or weeks as a new uptrend appears.

This bullish pattern can be seen on the following chart and was detected by Recognia's proprietary pattern recognition technology.

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