Alibaba ST : the downside prevails as long as 118.40 is resistance

Our pivot point is at 118.40.

Our preference: the downside prevails as long as 118.40 is resistance

Alternative scenario: above 118.40, look for 123.74 and 126.92.

Comment: the RSI is below its neutrality area at 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 116.44 and 119.37).

Supports and resistances:

126.92 **

123.74 *

118.40 **

116.30

113.93 USD - last

107.07

103.91 **