Alibaba Short Term: Key resistance level approaches
Alibaba (BABA.US)
+1.56+1.23%
The upside prevails as long as 113.45 is support, with 131.57 and 136.07 as targets
Our pivot point is at 113.45.
Our preference: The upside prevails as long as 113.45 is support, with 131.57 and 136.07 as targets
Alternative scenario: below 113.45, expect 106.11 and 101.74.
Comment: With prices now approaching our initial target, this level may prompt a throwback. That said, a decisive break above it could also act as a catalyst for further upside.
Supports and resistances:
140.56 *
136.07 **
131.57
128.41 USD - last
113.45 **
106.11 *
101.74 **
Our preference: The upside prevails as long as 113.45 is support, with 131.57 and 136.07 as targets
Alternative scenario: below 113.45, expect 106.11 and 101.74.
Comment: With prices now approaching our initial target, this level may prompt a throwback. That said, a decisive break above it could also act as a catalyst for further upside.
Supports and resistances:
140.56 *
136.07 **
131.57
128.41 USD - last
113.45 **
106.11 *
101.74 **
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