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The shares of Alibaba Group Holdings Ltd., one of the largest companies in the world in the field of Internet commerce, are correcting, trading at 92. On the daily chart, a wide downwards channel with dynamic boundaries 70?100 is formed, within which the price is held for a long time near the resistance line, unsuccessfully trying to break it.

On the four-hour chart, the local Triangle pattern is formed, the upper border of which coincides with the resistance line of the global channel around ​​100.

At the moment, there is no clear signal from the indicators for the subsequent movement yet but, given the factor of the pattern, the growth potential prevails: fast EMA on the Alligator indicator is actively approaching the signaling line, and the histogram of the AO indicator forms upward bars.

The shares of Pfizer Inc., one of the world's largest pharmaceutical companies, are correcting slightly above 53.

An uptrend is forming on the daily chart of the asset, and the price is holding above the support line at 49, developing a local increase.

On the four-hour chart, it can be seen that the channel with dynamic boundaries 49?57 is quite stable, and the price is approaching the resistance line, which is the main goal of the current upward movement of quotes. Since the price is in the middle of the channel, a downward scenario with reaching the support line at 49 is not excluded.

Technical indicators keep a stable buy signal, which is a priority: fast EMAs on the alligator indicator are above the signal line, and the AO oscillator histogram is trading in the buy zone, forming upward bars.

During the Asian session, the Australian dollar is slightly declining, correcting after a sharp rise the day before, which led to a renewal of local highs from April 22. The quotes of AUDUSD were supported by not the most confident macroeconomic statistics from the US, which were released the day before. In particular, a report from Automatic Data Processing (ADP) reflected weaker growth in private non-farm payrolls in May, rising by just 128K from a 202K increase a month earlier, with experts forecasting 300K, slightly lowering investor expectations for the May US labor market report, which will be published today.

This week, The Australian published information about the readiness of the Chinese authorities to postpone the conclusion of security pacts with a number of island states in the Indo-Pacific region. The document concerns the laying of submarine cables, the construction of berths, the development of shipbuilding, as well as other areas of cooperation, including China's investment in the development of these regions. Experts believe that the country, to which the island states will join, will eventually gain control over the entire Pacific Ocean, and the Chinese authorities probably will not give up trying to conclude these agreements.



Bollinger Bands on the daily chart show a steady increase. The price range is expanding from above but it fails to conform to the surge of "bullish" activity at the moment. MACD grows, preserving a stable buy signal (located above the signal line). Stochastic, having approached its highs is reversing into a horizontal plane, indicating the overbought instrument in the ultra-short term.

Resistance levels: 0.7300, 0.7341, 0.7400, 0.7450 | Support levels: 0.7250, 0.7202, 0.7150, 0.7100

The shares of PayPal, correct at the level of 84.
On the daily chart of the asset, the price left the wide downwards channel with the dynamic boundaries of 50 ? 84, having broken the resistance line, and consolidated higher, around the local maximum of May 4 around 92.

On the four-hour chart, the instrument continues its growth attempts and is ready to break this high. While an upside scenario is a priority, a decline to the initial 61.8% trend level of the Fibonacci extension at 60 cannot be ruled out either.

Technical indicators confirm the high probability of the continuation of the current wave of corrective growth: fast EMAs on the Alligator indicator are above the signal line, and the AO oscillator histogram remains in the buying zone, forming rising bars.




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On the daily chart of the asset, the price, having left the limits of the global downward channel with the boundaries of 148 ? 176, has broken the support line and completed the formation of a reverse test, which may signal a further continuation of the global decline to the basic trend of 100.0% on the Fibonacci expansion around 105.

On the four-hour chart, the trading instrument has broken the current local low at 132, which is the last necessary condition for continuing the downward dynamics of quotations. The nearest support for the price is the initial 61.8% Fibonacci extension trend at 122.

At the moment, indicator Alligator?s EMA oscillation range expands downwards, and the histogram of the AO oscillator forms downward bars in the sell zone.



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Netflix, technical analysis
On the daily chart of the asset, the formation of a global downward channel with dynamic boundaries at 70 ? 205 continues, within which the trading instrument has almost reached the resistance line and is preparing to continue its decline.

On the four-hour chart, it can be seen that the main obstacle for the negative dynamics is the year's low at 163, which the price has already tested twice but has not been able to break, so a slight upward pullback is quite justified: it will allow the market to gain sufficient strength and overcome the obstacle.



The technical indicators reversed and gave a sell signal: indicator Alligator's EMA oscillation range reversed downwards, and the histogram of the AO oscillator forms downward bars in the sell zone.

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