Alibaba Nears Major Resistance At $85

Alibaba Group Holding Ltd.

shares are trading higher by $0.95 at $84.78 in Monday's session. The issue is following through on the rally from its Q3 beat last Tuesday, that boosted the shares from $76.35 to $79.44 the following day. It added another over $4 by week's end to close at $83.83 after making an intraday high at $84.44. In today's session, it has surpassed that high reaching $84.80 at this time. The $85 level has provided formidable resistance in the past as well. The issue found sellers in this area when it peaked on July 22 ($84.75), July 23 ($84.97) and July 24 ($85.38).

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