Alibaba Group Holdings (BABA) saw choppy movement in its latest session, posting slight gains influenced by positive signals from the RSI indicators. However, we note that these indicators have reached excessively overbought levels compared to the price rhythm, signaling a rapid weakening of this temporary positive momentum. This comes especially under the dominance of a short-term corrective downward wave with the price moving along a trendline, alongside continued negative pressure from trading below its 50-day SMA, which further intensifies the surrounding bearish forces.

Therefore we expect the stock to decline in its upcoming trading, as long as it remains below the resistance level of $170.55, targeting the pivotal support level of $148.43 with strong chances of breaking it.

Today’s price forecast: Bearish

Western Digital Corporation (WDC) continued rising in its latest intraday trading, supported by its ongoing movement above the previous 50-day SMA, which reinforces the stability and dominance of the main medium-term ascending trend, especially with the price moving alongside a short-term secondary trendline. In addition, we note the early formation of a positive divergence on the RSI indicators after they reached extremely oversold levels, in an exaggerated manner compared to the stock’s movement, accompanied by the beginning of positive signal inflows.

Therefore we expect the stock to rise in its upcoming trading, as long as it remains above the support level of $137.40, targeting the pivotal resistance level of $178.45.

Today’s price forecast: Bullish

Snap Inc. (SNAP) declined slightly in its latest intraday trading, amid continued negative pressure from trading below its previous 50-day SMA, and under the dominance of the main medium-term descending trend, with the price moving alongside a trendline supporting this bearish structure. In addition, we note the arrival of negative signals on the RSI indicators, despite their presence in extremely oversold levels.

Therefore we expect the stock to decline in its upcoming trading, as long as it remains below the resistance level of $8.30, targeting the pivotal support level of $6.90.

Today’s price forecast: Bearish

Schlumberger N.V. (SLB) declined slightly in its latest intraday trading, as the stock attempts to gain positive momentum that may help it rise again. The price found support at its previous 50-day SMA, while a short-term corrective upward wave continues to dominate. In the background, we also observe the beginning of a positive divergence forming on the RSI indicators after they reached extremely oversold levels compared to the price movement, accompanied by the early arrival of positive signals from the relative strength indicators.

Therefore we expect the stock to rise in its upcoming trading, as long as it remains above the support level of $34.65, targeting the pivotal resistance level of $38.00.

Today’s price forecast: Bearish