Alibaba ST: under pressure below 267.6

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
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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