Alibaba intraday: short term rebound

BABA

Trading Central 2021-02-24 04:50:15

Our pivot point stands at 253.1.

Our preference: short term rebound.

Alternative scenario: below 253.1, expect 251.2 and 250.1.

Comment: the RSI is above its neutrality area at 50. The MACD is negative and above its signal line. The MACD must break above its zero level to call for further upside. Alibaba stands above its 20 period moving average (252.14) but below its 50 period moving average (258.45).

Supports and resistances:

260.3 **

259.2 *

258.1 **

257

254.59 last

253.8

253.1 **

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.