Alibaba may rise to 80.50 - 82.50

Our pivot point is at 71.1.

Our preference

Short term rebound towards 80.5.

Alternative scenario

The downside breakout of 71.1 would call for 67.9 and 66.

Comment

The RSI is below 50. The MACD is above its signal line and negative. The configuration is mixed. Moreover, the share stands below its 20 and 50 day moving average (respectively at 75.1395 and 78.1734).

Supports and resistances

84.4 **

82.5 *

80.5 **

78.6

74.52 (USD-last)

72.4

71.1 **

67.9 *

66 **

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