Alibaba may fall to 67.50 - 69.60

Our pivot point is at 79.8.

Our preference

As long as 79.8 is resistance look for 69.6.

Alternative scenario

The upside breakout of 79.8 would call for 83.3 and 85.4.

Comment

The RSI is below 50. The MACD is above its signal line and positive. The break above the 50 area on the RSI would call for further upside. Moreover, the share stands above its 20 day moving average (75.5825) but below its 50 day moving average (77.8646).

Supports and resistances

85.4 **

83.3 *

79.8 **

78.4

75.8 (USD-last)

71.6

69.6 **

67.5 *

65.6 **

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