Alibaba could be making a Shoulder/Head/Shoulder bottom. The right shoulder is still in progress and could reach support near 74.11 before moving higher. A break above minor resistance at 84.52 will be the first strong indication that Alibaba has completed the corrective decline from 120.32 and a new rally to test the neck-line resistance near 124.11 is in motion. A break above the neckline resistance at 124.11 will call for a rally to at least 230 and more likely to the 2020 peak near 319.32.
