Updated

Alibaba - Testing Uptrend Channel Resistance - Expect Pull Bac

+Baba broke triple top resistance at 192 with significant Volume = Causing upswing rally.
+Broke psychological resistance at 200.
+EMA20 > EMA50 = Bullish
+Price is above EMA20 Very Bullish
+Broadening gap between EMA20 and EMA50 suggest BABA is ready to continue to be bullish.

HOWEVER
-Currently tested Uptrend Channel Resistance
-Price extended to far above EMA20 and volume getting lower = POSSIBLE Bearish Divergence
-Price move Upper Bollinger Band for few days = POSSIBLE Pull Back.

EXPECT BULL to take short break
- Profit taking expect to happen
- Price Pull Back to test new support at 193 before continue upswing rally towards FIBO target 214.

Long term HOLD.
Short Term - Short if price fall back below psychological support at 200. Buy back around 193 if rebounce.

Trade closed: target reached

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