$BABA - showing potential

BABA Alibaba is once again showing potential. It is trading within a descending wedge and currently challenging the Point of Control (POC) resistance area.

Both the MACD and RSI are curling up, indicating the development of bullish momentum that might result in a change in the trend.

If it can break above the $89 level, there's potential for further upside.

Upside targets:
$96
$102
$120

Downside risk:
$84