Alibaba ST : target 127.07

Our pivot point is at 187.53.

Our preference: target 127.07

Alternative scenario: above 187.53, look for 206.12 and 217.18.

Comment: the RSI is below its neutrality area at 50. The MACD is below its signal line and positive. The MACD must penetrate its zero line to expect further downside. Moreover, the price is below its 20 period moving average (173.20) but above its 50 period moving average (146.01).

Supports and resistances:

217.18 **

206.12 *

187.53 **

180.23

159.01 USD - last

137.13

127.07 **