Alibaba Group Holding Limited (BABA) stock price recorded a pullback in its latest intraday trading, as the stock attempts to take profits from its previous gains while trying to build positive momentum that could help it recover and move higher again. At the same time, the stock is working to unwind part of its clear overbought conditions on the RSI, especially with the emergence of a negative crossover, while continued positive support remains in place from trading above its SMA50. This comes under the dominance of the main short-term upward trend, in addition to the stock being influenced by a previously formed positive short-term technical structure in the form of a falling wedge pattern.

Therefore we expect the stock price to rise in upcoming trading, as long as the $161.70 support level holds, to target the key resistance at $192.65.

Today’s price forecast: Bullish

Western Digital Corporation (WDC) stock price recorded a renewed rise in its latest intraday trading, driven by incoming positive signals from the RSI, as the stock prepares through this advance to attack the current resistance level at $252.50. This comes alongside continued dynamic support from trading above its SMA50, which reinforces the stability and dominance of the main upward trend, especially with price action moving along a supportive trend line.

Therefore we expect the stock price to rise in upcoming trading, especially if it succeeds in breaking above the $252.50 resistance level, to directly target the next resistance at $275.00.

Today’s price forecast: Bullish

Snap Inc. (SNAP) stock price recorded a decline in its latest intraday trading, under the dominance of the main short-term downward trend, with price action moving along a supportive trend line for this move. This comes alongside continued negative pressure from trading below its SMA50, while the decline followed the stock’s success in unwinding part of its clear oversold conditions on the RSI.

Therefore we expect the stock price to decline in upcoming trading, as long as the $8.30 resistance level remains intact, to target the key support at $7.12.

Today’s price forecast: Bearish

Schlumberger N.V. (SLB) stock price recorded choppy movements in its latest intraday trading, as the stock took profits from its previous gains while attempting to build positive momentum that could help it resume its strong advance. At the same time, the stock is trying to unwind part of its clear overbought conditions on the RSI, especially with the beginning of a negative crossover, while continued positive support remains in place from trading above its SMA50, under the dominance of the main short-term upward trend.

Therefore we expect the stock price to rise in upcoming trading, to retest the nearby and key resistance level at $50.95, with strong chances for a breakout.

Today’s price forecast: Bullish