Alibaba ST: short term rebound towards 281.6
Our pivot point is at 209.3.
Our preference: short term rebound towards 281.6.
Alternative scenario: the downside breakout of 209.3 would call for 187.6 and 174.7.
Comment: the RSI is below 50. The MACD is above its signal line and negative. The configuration is mixed. Moreover, the stock is trading under both its 20 and 50 day moving average (respectively at 240.6415 and 258.9708).
Supports and resistances:
309 **
295.3 *
281.6 **
267.9
235.3 (USD-last)
217.7
209.3 **

6 Reasons To Open An Account
Multi-language 24/7 professional support
Fast, convenient fund and withdrawals
Free demo account $10,000
International recognition
Real-time quotes with push notification
Professional market analysis broadcast
6 Reasons To Open An Account
Multi-language 24/7 professional support
Fast, convenient fund and withdrawals
Free demo account $10,000
International recognition
Real-time quotes with push notification
Professional market analysis broadcast