Alibaba resumes decline - Analysis - 05-09-2018

Chinese Alibaba's stock returned lower in the intraday levels, while hurt by piercing the main upward trend line recently in the short term, with negative pressure from the 50-day SMA, recording a loss of 2.61% in the last session, or 4.57 points. 

Therefore we expect more losses for the stock, especially if the support of 164.25 was breached, targeting the next one at 147.50. 

Expected trend for today: Bearish