Alibaba ST: under pressure below 267.6

BABA

Trading Central 2021-02-24 07:36:06

267.6 is our pivot point.

Our preference: under pressure below 267.6.

Alternative scenario: above 267.6, look for 284 and 293.6.

Comment: the RSI is below its neutrality area at 50. The MACD is below its signal line and positive. The MACD must penetrate its zero line to expect further downside. Moreover, the stock is trading under both its 20 and 50 day moving average (respectively at 263.302 and 252.9578).

Supports and resistances:

293.6 **

284 *

267.6 **

261.3

252.75 (USD-last)

223.3

214.1 **

Disclaimer

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