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Alibaba falling down

ALIBABA GROUP HOLDING LTD SPON ADS EACH REP 8 ORD SHS NYSE:BABA
davidevanosi



All indicators show a descending trendline, more precisely a descending head and shoulder figure, ADX grows while the spread between DI – and DI+ widens, EMA 20 is below EMA 50, it may go up but i think the fall will continue. I set some target price as resistance and support, i think it will go to 200 usd and then bounce up and reverse the trendilne.



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