Alibaba intraday: the downside prevails as long as

Alibaba intraday: the downside prevails as long as 233.8 is resistance

BABA

Trading Central 2021-01-13 04:51:06

Our pivot point is at 233.8.

Our preference: the downside prevails as long as 233.8 is resistance.

Alternative scenario: above 233.8, look for 243.1 and 248.6.

Comment: the RSI is below its neutrality area at 50. The MACD is negative and below its signal line. The configuration is negative. Alibaba stands below its 20 and 50 period moving average (respectively at 228.06 and 230.31).

Supports and resistances:

248.6 **

243.1 *

233.8 **

230.1

226.283 last

215.2

209.7 **

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