Alibaba gathers positive momentum - Analysis - 27-04-2017

Chinese Alibaba's stock (BABA) fell modestly in the intraday levels, recording a loss of 0.44% in the last session, or 0.51 points, as the stock gathers momentum to help it rise again, amid ongoing positive support from the SMA for the last 50 days period, with the complete dominance of the main upward trend in the medium and short terms along the trend line, coupled with an influx of positive signals from relative power indicators. 

Therefore we expect the stock to return higher in the coming trading, targeting and readying to tackle the resistance of 116.24.