Alibaba tests current resistance - Analysis - 20-09-2018

Chinese Alibaba's stock rose in the intraday levels, with positive signals from the RSI, retesting the pivotal resistance of 168.00, amid the dominance of the downward correctional short-term wave, with negative pressure from the 50-day SMA. 

Therefore we expect the stock to return lower, as long as it settles below 163.69, targeting the support of 148.85, which represents the ratio 50% of the same retracement levels. 

Expected trend for today: Likely Bearish