Economies.com provides the latest technical analysis and forecast of the american stocks, in order to keep track of the trend of the US stocks.
Altaba's stock rose 2.70% in the last session, or 1.67 points, testing the ceiling of the descending correctional price channel that guided recent short-term trading, coinciding with touching the resistance of the 50-day SMA, as the RSI reached overbought levels compared to the stock's movements.
Therefore we expect the stock to return lower, targeting the support of 57.61, as long as the resistance of 62.88 holds on.
Expected trend for today: Likely Bearish