Alibaba may rise to 94.50 - 98.30

75.2 is our pivot point.

Our preference

As long as 75.2 is support look for 94.5.

Alternative scenario

The downside breakout of 75.2 would call for 68.9 and 65.2.

Comment

The RSI is above 50. The MACD is below its signal line and positive. The stock could retrace in the short term. Moreover, the stock is below its 20 day moving average (81.0545) but above its 50 day moving average (75.7908).

Supports and resistances

102.1 **

98.3 *

94.5 **

90.6

80.8 (USD-last)

77.6

75.2 **

68.9 *

65.2 **

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