Alibaba Breaks Out As Yahoo Details Holding Company

Chinese e-commerce giant Alibaba (BABA) saw its U.S. shares break out on Monday as Yahoo (YHOO) detailed its plans for a holding company for its Alibaba stake.

Alibaba's American depositary receipts jumped as much as 2.8% to 106.25 on Monday, breaking out of a cup-with-handle chart pattern with a buy point of 104.67. In early afternoon trading, Alibaba was up 1.7%, near 105.10. Alibaba hit a nearly two-year high of 109.87 on Sept. 28.

On Monday, Yahoo said its planned spinoff of foreign...

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