DaxonandDixon
Long

ALIBABA LOOKING FOR 231.97 PRICE LEVEL !!!

NYSE:BABA   Alibaba Group Holdings Ltd.
we are inside a bullish channel whose price limit in the part of the upper axis is located at the price level 231.97

we are observing the formation of a rather complex shoulder-head-shoulder (s-h-s) figure, now forming the complex head of the figure in form of a double roof.

We will see if after reaching the goal at level 231.97 it forms a huge range of right shoulder formation or it is definitely going to look for the lower axis of the channel for bearish breakout.

Cheers!

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