Alibaba tries to regain footing - Analysis - 07-08-2019

Alibaba's stock rose in the intraday levels, while leaning on the upward medium-term trend, with positive signals from the RSI after reaching oversold levels, countered by negative pressure from the 50-day SMA. 

Therefore we expect more gains for the stock, as long as the support of 150.11 holds on, targeting the resistance of 165.44. 

Expected trend for today: Bullish