Alibaba Tokenized Stock Fell 2.85% in 24 Hours to $107.87 Friday

Alibaba Tokenized Stock (BABA) fell 2.85% over the latest reported 24-hour period to $107.87 in the Binance futures market, after reaching a high of $112.16 above the $111.79 immediate resistance level.

BABA traded between $104.68 and $112.16 during the period. Its ending price was below the $111.79 resistance level. The listed pivot was $108.24, with immediate support at $104.31, strong support at $100.76 and the next resistance at $115.72.

BABA ended above its 50-day simple moving average of $107.27 and the Bollinger middle band at $102.63, but below its 200-day average of $116.77. The relative strength index was 59.73, while the moving average convergence divergence reading was negative at -0.8362.

Analyst updates concerned Alibaba’s NYSE-listed American depositary receipts (ADRs), not the tokenized stock. Mizuho Securities analyst Wei Fang maintained a Buy rating and raised the ADR price target to $200 from $195 on Nov. 3. Citigroup analyst Alicia Yap reiterated a Buy rating with a $193 target on Nov. 1.