Alibaba ST: the downside prevails as long as 247 i

Alibaba ST: the downside prevails as long as 247 is resistance

BABA

Trading Central 2021-01-13 07:08:04

247 is our pivot point.

Our preference: the downside prevails as long as 247 is resistance.

Alternative scenario: the upside breakout of 247 would call for 268.8 and 281.9.

Comment: the RSI is below its neutrality area at 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the stock is trading under both its 20 and 50 day moving average (respectively at 241.678 and 260.3586).

Supports and resistances:

281.9 **

268.8 *

247 **

238.3

225.6 (USD-last)

199.5

186.9 **

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