Alibaba buoyed by SMA support - Analysis - 12-12-2018
Economies.com
2018-12-12 12:06PM UTC
Chinese Alibaba's stock returned higher with a 0.26% profit, or 0.40 points, after leaning on the 50-day SMA support, while buoyed by piercing the downward trend line recently in the short term, as the RSI reached oversold levels compared to the stock's movements.
Therefore we expect more gains for the stock, as long as it settles above 152.68, targeting the resistance of 169.84.
Expected trend for today: Bullish
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