Alibaba may rise to 75.30 - 76.90

Our pivot point stands at 71.1.

Our preference

Short term rebound towards 75.3.

Alternative scenario

The downside breakout of 71.1 would call for 70.2 and 69.2.

Comment

The RSI is below 50. The MACD is above its signal line and negative. The configuration is mixed. Alibaba stands above its 20 period moving average (73.95) but below its 50 period moving average (74.27).

Supports and resistances

77.8 **

76.9 *

75.3 **

74.6

74.025 last

72.1

71.1 **

70.2 *

69.2 **

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