Alibaba returns lower - Analysis - 21-10-2016

Chinese Alibaba's stock fell in the intraday levels, recording a loss of 0.08% in the last session, or 0.08 points, with the stock leaning back on the main upward trend line in the short term, amid ongoing positive pressure from the SMA for the last 50 days period, with an influx of positive signals from relative power indicators. 

Therefore we expect the stock to return higher in the coming trading, specially if it settled above the resistance of 104.00, targeting the pivotal resistance of 108.80.