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Posted On: 03/27/2017 11:39:52 AM
Post# of 267
The price of Alibaba Group Holding Ltd (NYSE:BABA) shares are into a double top. For investors who are not familiar with the technical term, a double top is when price hits the same level as it did at some point in the past. This usually was a former significant pivot high. Double tops are major resistance levels, usually signaling a stock price pull back. This is what is expected on shares of Alibaba. The top pros are shorting it heavily, expecting a pull back to at least $100, maybe lower.
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