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Benzinga

Business

Melanie Schaffer

HISTORICAL FACTS: Why alibaba s stock look set to bounce | History Defined

Alibaba BABA NYSE

Alibaba Group Holding, Ltd (NYSE:BABA) was trading over 4% lower on Friday, after gapping down slightly to start the trading day.

On Thursday, Alibaba confirmed it was trading in a new downtrend by printing a lower low under the May 2 low-of-day at the $95.15 mark. Friday’s bearish pressure is likely a continuation of the trend.

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