Alibaba smashes through current resistance - Analysis - 18-08-2017

Chinese Alibaba's stock (BABA) closed higher anew in the intraday levels, scoring a profit of 2.77% in the last session, or 4.42 points, and smashing through the resistance of 163.60, amid the dominance of the main upward trend in the medium and short terms, with positive support from the 50-day SMA, coupled with positive signals from relative power indicators.

Therefore we expect more gains for the stock, as long as it settles above 163.60, targeting the resistance of 181.40.