Alibaba intraday: the downside prevails as long as 265.9 is resistance

Trading Central 2021-02-20 04:42:20

Our pivot point stands at 265.9.

Our preference: the downside prevails as long as 265.9 is resistance.

Alternative scenario: the upside breakout of 265.9, would call for 267.8 and 268.9.

Comment: the RSI is below 50. The MACD is negative and below its signal line. The configuration is negative. Alibaba is trading under both its 20 and 50 period moving average (respectively at 264.84 and 267.41).

Supports and resistances:

268.9 **

267.8 *

265.9 **

265.1

263.332 last

261.1

259.9 **

Disclaimer
The trading strategy containing reference trading prices and analysis opinions is provided by the third-party provider Trading Central.And the trading strategy is only the personal research and judgment by analysts,which is not a statement of facts.No representation or warranty is given as to the accuracy or completeness of this strategy. Consequently any person acting on it does so entirely at their own risk. TOP1 accepts no responsibility for any use that may be made of these comments and for any consequences that result.

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