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

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