Alibaba may rise to 102.10 - 106.00

81.9 is our pivot point.

Our preference

The upside prevails as long as 81.9 is support.

Alternative scenario

The downside breakout of 81.9 would call for 75.6 and 71.9.

Comment

The RSI is trading above 70. This could mean that either the stock is in a lasting uptrend or just overbought and that therefore a correction could shape (look for bearish divergence in this case). The MACD is positive and above its signal line. The configuration is positive. Moreover, the stock is trading above both its 20 and 50 day moving average (respectively at 78.8065 and 75.0502). Finally, Alibaba is trading above its upper Bollinger band (standing at 87.92).

Supports and resistances

110 **

106 *

102.1 **

98.2

88.54 (USD-last)

84.4

81.9 **

75.6 *

71.9 **

Number of asterisks represents the strength of support and resistance levels.