Alibaba may rise to 84.70 - 86.60

Our pivot point stands at 75.1.

Our preference

The upside prevails as long as 75.1 is support.

Alternative scenario

Below 75.1, expect 71.9 and 70.

Comment

The RSI is above its neutrality area at 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the stock is trading above both its 20 and 50 day moving average (respectively at 76.474 and 77.3996).

Supports and resistances

88.6 **

86.6 *

84.7 **

82.7

78 (USD-last)

76.5

75.1 **

71.9 *

70 **

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