Alibaba may fall to 62.00 - 65.10

Our pivot point is at 79.2.

Our preference

The downside prevails as long as 79.2 is resistance.

Alternative scenario

The upside breakout of 79.2 would call for 84.4 and 87.4.

Comment

The RSI is below its neutrality area at 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the stock is trading under both its 20 and 50 day moving average (respectively at 78.229 and 77.657).

Supports and resistances

87.4 **

84.4 *

79.2 **

77.3

74.35 (USD-last)

68

65.1 **

62 *

59.1 **

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