Sometimes the graph tells a different story than intuition. My intuition tells me BABA is heading down, but the graph shows potential for bullish move. Notes on chart, not a recommendation - just an idea.
I haven't seen the chart type you are using but it looks good to me? I know a few people who are long BABA around 104 and a target of 116-120. Right now its scaring me out of a trade but its probably the best time to get in and just limit your stop.