Alibaba may rise to 83.00 - 85.00

Our pivot point stands at 71.4.

Our preference

The upside prevails as long as 71.4 is support.

Alternative scenario

Below 71.4, expect 68.3 and 66.5.

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 below its 20 day moving average (77.1735) but above its 50 day moving average (76.7122).

Supports and resistances

86.9 **

85 *

83 **

81.1

76.98 (USD-last)

72.7

71.4 **

68.3 *

66.5 **

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