Alibaba Rally Drives Momentum Gauge Past Overbought Level: ChartBy
A 17 percent jump in Alibaba Group Holdings Ltd’s shares over six weeks has pushed the 14-day relative strength index above 70, a level that frequently precedes declines. The Chinese e-commerce company, which is set to report quarterly earnings Thursday, has been rallying as analysts project a 46 percent increase in annual sales amid growing signs of stabilization in the Asian nation’s economy.
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