Alibaba ST: gap

BABA

Trading Central 2021-02-23 07:18:05

273 is our pivot point.

Our preference: target 223.8.

Alternative scenario: above 273, look for 290.3 and 300.5.

Comment: the RSI is below 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 below its 20 day moving average (263.7335) but above its 50 day moving average (253.1788).

Supports and resistances:

300.5 **

290.3 *

273 **

266.2

254 (USD-last)

233.9

223.8 **

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