Stocks

Alibaba may fall to 64.60 - 68.00

2024-06-09

83.8 is our pivot point.

Our preference

Target 68.

Alternative scenario

The upside breakout of 83.8 would call for 89.6 and 93.

Comment

The RSI is below its neutrality area at 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 (81.587) but above its 50 day moving average (77.0916).

Supports and resistances

93 **

89.6 *

83.8 **

81.6

78.41 (USD-last)

71.3

68 **

64.6 *

61.3 **

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

This is not investment advice. Past performance does not represent future performance. Your funds are at risk, please trade with caution and responsibility.


Author:

Paul Reid
Tradingtop

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