Note: the stock has risen very sharply since I published October 9th, 2017. Back then, my original target was $170, which was obtained. If you are looking for a new target, my preliminary goal would be $200-$220. From a technical standpoint, Here are the positives for-BABA: 1. Currently multiple buy Fractals. 2. The top upper indicator is a 34 day moving average, and this is positive. Very strong. 3. The alligator is feeding in the uptrend. 4. Prices are trading above the Ichimoku Cloud . 5. The Forward Momentum indicator (lower top) is strong. ** 6. The Ichimoku Cloud is rising. 7. The 233 day moving average trend line is rising (this is a Fibonacci number). 8. According to Bill Williams , you can establish an entry point, again and again, with each new valid Fractal . 9. The indicators under the chart (Chop, Chop Zone) have been green (up) for a long time. In fact, almost all of 2017. This is a rare event. This is positive if you are long. But (important), when there is a draw-down, you can use this opportunity to establish your entry point, or, accumulate more in your position.
** The lower indicator on top is a forward projection. For an estimation of possible FORWARD TRENDING I use the Ichimoku Cloud Senkou Span A (Leading Span A): (Conversion Line + Base Line)/2)). This is the midpoint between the Conversion Line and the Base Line. The Leading Span A forms one of the two Cloud boundaries. It is referred to as "Leading" because it is plotted 26 periods in the future and forms the faster Cloud boundary. I then make an oscillator out of this and plot the progress up and down around a “zero line”. BABA-has consistently been strong. I consider BABA-as a core holding. I would also strongly suggest that you look at-AABA-this is-Altaba-(the former-Yahoo). This stock trends in a similar pattern to-BABA, but is about 1/3 the price. One reason is that-AABA has a large position in-BABA.