NYSE:BABA   Alibaba Group Holdings Ltd.
5
Price found first indication of support at ~106 and now bound by 110.12 (Fib 1.618)
It will be very bullish if price broke out of 110.12 ( bull flag ) inside an uptrend channel , but take note that a fake out
to retest 106 level is not rule out.

To me bull flag in uptrend channel is a indication of uptrend continuation just like bear flag in downtrend channel an indication of downtrend continuation, of course there will always one or two exception.

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