Alibaba ST: as long as 249.7 is support look for 2

Alibaba ST: as long as 249.7 is support look for 299.8

BABA

Trading Central 2021-02-22 13:12:15

Our pivot point is at 249.7.

Our preference: as long as 249.7 is support look for 299.8.

Alternative scenario: the downside breakout of 249.7 would call for 233.1 and 223.2.

Comment: the RSI is above its neutrality area at 50. The MACD is positive and below its signal line. The stock could retrace in the short term. Moreover, the stock is trading under its 20 day moving average (263.9645) but above its 50 day moving average (253.4206).

Supports and resistances:

320.3 **

310.1 *

299.8 **

289.6

263.59 (USD-last)

256.3

249.7 **

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