Alibaba tries to vent off overbought saturation - Analysis - 15-04-2019

Chinese Alibaba's stock inched down 0.19% while attempting to pierce the important resistance of 188.08, as it vented off overbought saturation in the RSI, with positive support from the 50-day SMA, and amid the dominance of the upward correctional trend in the short term. 

Therefore we expect the stock to rise if the resistance of 188.08 was confirmed to be breached, targeting the next one at 198.35. 

Expected trend for today: Bullish