The pop can take this easily to 115 after earnings
Alibaba is forming an ascending triangle pattern, a bullish price setup that's formed by horizontal resistance above shares up at $87.50 and uptrending support to the downside. Basically, as BABA bounces between those two levels, it's been getting squeezed closer to a breakout above our $87.50 price ceiling.
Momentum, measured by 14-day RSI, adds some extra upside confidence to this setup. Our momentum gauge has been in an uptrend since just early February, an indication that buying pressure has been building under the surface. When $87.50 gets taken out, it goes a lot higher!
Watch yahoo news, they will do their best to scrape up negative news to get the price down to get in