In the daily bar chart of Alibaba, below, I can see a mixed picture from the indicators. Alibaba prices made a small double-bottom formation at $130 a share in late October and late December. Prices rallied in January and February to break above the high of the double bottom around $170. The breakout looks like it was accompanied by increased volume, which is a positive.
The slope of the 50-day moving average line turned positive in early January and in February when BABA broke out over the bottoming 200-day line. Volume was stronger on the breakout, which is good, but overall it does not show an increase from the December low.
The daily On-Balance-Volume (OBV) line shows a rise the past two months, but it has not broken above its December peak.
The Moving Average Convergence Divergence (MACD) oscillator gave a cover-shorts buy signal in early January and crossed the zero line mid-month for an outright go-long signal.
In the weekly bar chart of BABA, below, I see a mixed picture.
Prices have rallied above the still declining 40-week moving average line. The weekly OBV line has indeed picked up the past seven weeks, but the volume histogram (right below the price chart) shows declining volume, and that is not what bulls want to see.
The weekly MACD oscillator crossed to a cover-shorts buy signal in December, but it has yet to cross the zero line for an outright go-long signal.
In this first Point and Figure chart of BABA, below, we can see the base pattern and an upside price target of $197.61. This target is okay but it is not a new high for the stock.
In this second Point and Figure chart (below) we used weekly data to get a longer-term perspective. Here a $255 price target is being calculated by the software.
Bottom-line strategy: If we put aside the long-term Point and Figure chart (above), we basically have a stock that is making a recovery rally. I would take the rally in BABA one day at a time while risking a close below $169.