Alibaba ends cautiously higher - Analysis - 18-06-2019

Alibaba's stock rallied 1.93% in the last session, with negative pressure from the 50-day SMA, coupled with negative signals from the RSI, amid the dominance of the downward short-term trend. 

Therefore we expect the stock to return lower, targeting the support of 151.20, as long as the resistance of 165.25 holds on. 

Expected trend for today: Bearish