Alibaba Short Term: The upside prevails as long as 122.69 is support
Alibaba (BABA.US)
-2.81-2.20%
The upside prevails as long as 122.69 is support, with 141.09 and 145.35 as targets
Our pivot point is at 122.69.
Our preference: The upside prevails as long as 122.69 is support, with 141.09 and 145.35 as targets
Alternative scenario: below 122.69, expect 115.77 and 111.66.
Comment: the RSI is above 70. It could mean either that the price is in a lasting uptrend or just overbought and therefore bound to correct (look for bearish divergence in this case). The MACD is above its signal line and positive. The configuration is positive. The price is above its 20 and 50 period moving average (respectively at 119.98 and 113.94).
Supports and resistances:
149.61 *
145.35 **
141.09
132.32 USD - last
122.69 **
115.77 *
111.66 **
Our preference: The upside prevails as long as 122.69 is support, with 141.09 and 145.35 as targets
Alternative scenario: below 122.69, expect 115.77 and 111.66.
Comment: the RSI is above 70. It could mean either that the price is in a lasting uptrend or just overbought and therefore bound to correct (look for bearish divergence in this case). The MACD is above its signal line and positive. The configuration is positive. The price is above its 20 and 50 period moving average (respectively at 119.98 and 113.94).
Supports and resistances:
149.61 *
145.35 **
141.09
132.32 USD - last
122.69 **
115.77 *
111.66 **
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