Alibaba may rise to 90.90 - 93.10

Our pivot point stands at 79.1.

Our preference

The upside prevails as long as 79.1 is support.

Alternative scenario

Below 79.1, expect 75.4 and 73.3.

Comment

The RSI is above 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the stock is trading above both its 20 and 50 day moving average (respectively at 78.429 and 76.7998). Finally, Alibaba has crossed above its upper daily Bollinger band (82.45).

Supports and resistances

95.4 **

93.1 *

90.9 **

88.6

83.18 (USD-last)

80.5

79.1 **

75.4 *

73.3 **

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