Altaba leans on SMA support - Analysis - 07-12-2018

Altaba's stock fell 1.45% in the last session, or 0.94 points, while venting off overbought saturation in the RSI as it also gathered momentum to help it rise anew, leaning thereafter on the support of the 50-day SMA, while buoyed by exiting a descending correctional price channel that guided recent short-term trading. 

Therefore we expect the stock to return higher, as long as the support of 62.88 holds on, targeting the resistance of 67.86. 

Expected trend for today: Likely Bullish