Alibaba ST : Gap

Our pivot point is at 114.55.

Our preference: Rebound

Alternative scenario: below 114.55, expect 102.21 and 94.87.

Comment: the RSI is above its neutrality area at 50. The MACD is above its signal line and negative. The MACD must break above its zero level to trigger further gains. Moreover, the price stands above its 20 period moving average (113.40) but below its 50 period moving average (127.01).

Supports and resistances:

164.05 **

156.56 *

149.08 **

141.59

125.76 USD - last

119.40

114.55 **