UPSIDE FOR ALIBABA

Historically when the RSI reaches its current level with BABA, the stock rises a minimum of 3.27% and has an average movement of 9.91%. I have outlined a trendline that has served as support and resistance multiple times in the previous year. Although the top of the trendchannel is well above this point, I project a conservative move to 101.60 over the next few weeks.

There may be a slight pullback tomorrow, especially with the non-farm payroll and unemployment numbers are due out and looking less positive. Near the end of the day tomorrow or shortly after the OPEN on Monday could be great opportunities to BUY a CALL.