Market Overview

Alibaba Makes New All-Time High And Retreats

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Alibaba Group Holding Ltd (NYSE: BABA) shares are trading lower by $1.77 (1.1 percent) at $184.31 in Thursday's session.

Before the open, the company reported a Q2 EPS beat of 24 cents along with a sales beat of $365 million.

Related: 5 Stocks To Watch Following Alibaba's Big Earnings Beat

After a much higher open, Alibaba went only another 22 cents to $191.21 before sellers swarmed the stock. The ensuing decline took it to $183.31, but rebounded back into the $184.00 handle as of 11:40 a.m. EST. That low coincides with Tuesday's low of $183.58.

If that level is breached, the next daily support comes in at Tuesday's low of $181.81.

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