Alibaba may rise to 93.00 - 95.40

Our pivot point stands at 81.2.

Our preference

The upside prevails as long as 81.2 is support.

Alternative scenario

Below 81.2, expect 77.3 and 74.9.

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 above its 20 and 50 day moving average (respectively at 80.248 and 77.2636). Finally, Alibaba has crossed above its upper daily Bollinger band (85.16).

Supports and resistances

97.9 **

95.4 *

93 **

90.6

85.41 (USD-last)

82.8

81.2 **

77.3 *

74.9 **

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