Alibaba may rise to 85.20 - 87.30

74.7 is our pivot point.

Our preference

Our next up target stands at 85.2.

Alternative scenario

The downside breakout of 74.7 would call for 71.2 and 69.1.

Comment

The RSI is above its neutrality area at 50. The MACD is above its signal line and negative. The MACD must break above its zero level to call for further upside. Moreover, the stock is above its 20 and 50 day moving average (respectively at 74.545 and 78.214). Finally, Alibaba is trading above its upper Bollinger band (standing at 77.96).

Supports and resistances

89.4 **

87.3 *

85.2 **

83.1

78.52 (USD-last)

76

74.7 **

71.2 *

69.1 **

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