Alibaba attacks pivotal resistance - Analysis - 21-08-2019

Alibaba's stock tried to attack the pivotal resistance at 178 before bouncing off it lower in an attempt to gather momentum to help maintain the main upward trend, while venting off overbought saturation in the RSI, with positive support from the 50-day SMA. 

Therefore we expect the stock to rise, provided the resistance of 178.00 was breached, opening the door for 195.00. 

Expected trend for today: Bullish