Alibaba may fall to 70.00 - 71.00

75 is our pivot point.

Our preference

The downside prevails as long as 75 is resistance.

Alternative scenario

Above 75, look for 76.6 and 77.6.

Comment

The RSI is below its neutrality area at 50. The MACD is negative and below its signal line. The configuration is negative. Alibaba stands below its 20 and 50 period moving average (respectively at 74.16 and 74.28).

Supports and resistances

77.6 **

76.6 *

75 **

74.4

73.79 last

71.9

71 **

70 *

69.1 **

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