The ADR stock for Alibaba is currently trading at around $79.84 a share, with some clear resistance showing so far today around $80-$81. It is likely that the price will remain below this price area before the release of the firm’s earnings tomorrow. Following the earnings, a move above the level could stimulate a surge towards $88-$90 in the coming weeks (highs of 2024). However, a disappointing earnings report may very likely cause a significant sell-off, taking the stock back to square one and even possibly into negative return territory for the year. Primary support sits along the ascending trendline, reading around $73-$73.50. It would require a 7% sell-off from the current price level for the stock’s share price to reach the trendline support. Looking at the momentum indicators, it seems like bullish momentum is still present but faintly, especially when looking at the MACD. The RSI creates more optimism as it gradually creeps higher.