Chart Trade Alert: Alibaba Group Holding Topping Tail Signals Fall To This Target

Alibaba Group Holding Ltd (NYSE:BABA) has a 52 week low of $57.20 and just last week made a 52 week high at $104.30. This is nearly a 100% move for the year. Sound fantastic right? Not so much when you see the weekly chart. Institutional investors and traders brought this to my attention when they noted the bearish mega signal, telling me $BABA is likely made its high for all of 2016. They are accumulating large short positions after today's bounce, looking for a price target of $85.00. The current price as per the close is $100.80.

By Pro-Trader

Markus Teller