Alibaba Group Holding Ltd. (BABA) stock price recorded gains in its latest intraday trading, as the stock attempts to recover part of its previous losses. This comes amid the dominance of a short-term corrective bearish trend, with price moving alongside a trendline supporting this path, while negative pressure persists as the stock trades below its 50-day SMA. Meanwhile, negative signals continue to emerge from the Stochastic indicator after reaching extremely overbought levels.

Therefore we expect the stock price to decline during its upcoming trading sessions, as long as resistance at $139.15 remains intact, targeting the support level at $116.85.

Todays price forecast: Bearish