BABA Clears Multi-Year Resistance, Eyes $148–$188 Next

Weekly Structure:

• BABA has broken out of a multi-year base between $100–$126, clearing resistance that capped rallies for almost 2 years.
  
• Price is now targeting the next major resistance levels:
  
• $148.5 → prior high and Fib cluster.
  
• $157.8 (Fib 0.382 retracement).
  
• Medium-term upside could extend to $188.6 if momentum sustains.
  

Daily Structure (Micro View):

• Strong breakout candle above $127–$130 confirms bulls in control.
  
• Immediate supports now flip bullish: $127, $123.5, and $120.
  
• Trend alignment: short, mid, and long EMAs are stacked positively (classic trend confirmation).
  

Indicators:

• PMO (Price Momentum Oscillator, top grid): Both signal lines are rising and staying in the green zone → momentum remains bullish.
  
• RSI (bottom grid): Currently at 63, strong but not overbought. Shows room for continuation toward 70–75 before risk of pullback.
  

When is the Uptrend Negated?

• The bullish thesis holds as long as price respects the breakout structure:
  
• Invalidation: Loss of $120 (Fib 0.236 + EMA cluster) would flip structure bearish again and re-open risk to $111–108 support.
  

Indicators check:

• If PMO turns down with a red signal cross, momentum is exhausted.
  
• If RSI fails to hold 50 on a pullback, uptrend strength is negated.
  

Summary Bullish Path:

• Holding above $123–$126 keeps bulls in full control.
  
• Upside targets: $148 → $157 → $188.
  
• Uptrend is negated only on a decisive break below $120 with PMO + RSI confirming weakness.