BABA recovered strongly from the 76.21 YTD low (July 7, 2015) above an 8-week falling trendline (from May 22, 2015 high) to suggest basing and trigger further gains towards 86.34 (June 23, 2015 high) which is near the 9-month falling wedge resistance (from November 13, 2014 peak). A decisive push through there would confirm a wedge breakout and bolster higher for 87.48/91.40 initially. The 80.21 level (July 15, 2015 low) provides immediate support. Below would shift the focus back to the 76.21 support.
Outlook:
Short term: bullish
Long term: bullish