Alibaba seeks a bottom to bolster it - Analysis - 14-12-2018

Chinese Alibaba's stock closed mostly flat with a nominal 0.01% dip, as the RSI reached oversold saturation compared to the stock's movements, while the stock seeks a bottom to bounce it higher anew, while also buoyed by breaching the downward trend line recently in the short term, with positive support from the 50-day SMA. 

Therefore we expect the stock to return higher, targeting the resistance of 169.84, provided it settles back above 152.68. 

Expected trend for today: Likely Bullish