Alibaba driven lower by stubborn resistance - Analysis - 09-09-2019

Alibaba's stock fell after the pivotal resistance of 179.00 held on, while traders collect recent profits and as the stock gathered momentum to prop it higher, while venting off overbought saturation in the RSI, amid the dominance of the upward short-term trend, with positive support from the 50-day SMA. 

Therefore we expect the stock to return higher, provided the resistance of 179.00 was breached, targeting the next one at 195.65. 

Expected trend for today: Bullish