Alibaba may fall to 61.20 - 64.20

Our pivot point stands at 78.3.

Our preference

The downside prevails as long as 78.3 is resistance.

Alternative scenario

Above 78.3, look for 83.4 and 86.5.

Comment

The RSI is below 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the stock is trading under both its 20 and 50 day moving average (respectively at 80.2085 and 77.517).

Supports and resistances

86.5 **

83.4 *

78.3 **

76.3

73.35 (USD-last)

67.3

64.2 **

61.2 *

58.2 **

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