Alibaba has made a nice inverted head shoulders on the daily after coming down from an ATH of 319. You can also see the 21 ema (blue line) crossing over the 50 ema (black line). There is also a nice gap above the 280.97 level to 290. Seeing patterns form on the daily time frame, as well as an ema cross over is what you like to find when looking for an explosive move, the higher the time frame the more effective your technical analysis will be.
Major resistance: 280.97, above this level there is a gap to fill to 290
Minor resistance: 273-274 zone
Price target: I am planning on taking this trade to 290 and will watch to see how price reacts once the gap is filled, expect a pullback after the gap is filled
Major resistance: 280.97, above this level there is a gap to fill to 290
Minor resistance: 273-274 zone
Price target: I am planning on taking this trade to 290 and will watch to see how price reacts once the gap is filled, expect a pullback after the gap is filled