Alibaba may fall to 78.80 - 84.10

Our pivot point is at 108.8.

Our preference

Target 84.1.

Alternative scenario

Above 108.8, look for 117.9 and 123.3.

Comment

The RSI is below 50. The MACD is positive and below its signal line. The MACD must penetrate its zero line to expect further downside. Moreover, the stock is trading under its 20 day moving average (106.8135) but above its 50 day moving average (92.6536).

Supports and resistances

123.3 **

117.9 *

108.8 **

105.2

100.91 (USD-last)

89.4

84.1 **

78.8 *

73.4 **

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