BABA: triangle with tension

On the weekly chart, BABA has already formed a golden cross - price is above both MA50 and MA200, confirming a bullish trend shift. The stock is now approaching the upper edge of the symmetrical triangle and the key resistance at $122, which also aligns with the 0.5 Fibonacci level.

The numbers inside the triangle represent the contraction phases, not Elliott waves. This is a classical consolidation before a potential breakout. If the $122 level is broken and retested, upside targets are $128 (0.618), $137 (0.786), and eventually $148–181 (1.0–1.618 extension).

Volume is rising, MACD is flipping bullish, and RSI is climbing out of oversold territory — all signs point to growing bullish momentum.

Fundamentally, Alibaba benefits from China's economic rebound, possible regulatory relief, and ongoing share buybacks. With Chinese tech rotating back into favor, BABA could lead the rally.

So if you're still waiting for a signal - it's already here. The golden cross is done, price is flying above moving averages, and all that’s left is a clean breakout. Watch $122 — that’s the launchpad.