Alibaba may fall to 65.00 - 68.40

Our pivot point is at 84.9.

Our preference

Target 68.4.

Alternative scenario

Above 84.9, look for 90.7 and 94.2.

Comment

The RSI is below 50. The MACD is positive and below its signal line. The MACD must penetrate its zero line to expect further downside. Moreover, the stock is below its 20 day moving average (81.965) but above its 50 day moving average (76.3262).

Supports and resistances

94.2 **

90.7 *

84.9 **

82.5

79.63 (USD-last)

71.9

68.4 **

65 *

61.5 **

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