ALIBABA broke above the yearly Resistance. Buy signal.

Alibaba broke on Friday above the Falling Resistance that was initiated on January 26th.
That was also a crossing over the 0.236 Fibonacci level.
Technically that is a strong double bullish break out for a potential long term bullish reversal.

Trading Plan:
1. Buy on the current market price.

Targets:
1. 105.00 (Resistance 2 and Fibonacci 0.618) and 120.00 (Resistance 3 and Fibonacci 1.000).

Tips:
1. The RSI (1d) has been on a Rising Support since March 10th. A Bullish Divergence and clear sign of a long term bullish reversal.

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