$Alibaba(BABA)$ So... Closed g

So... Closed green in HK but shy of local high. It seems there is similar situation set for NYSE. What does it mean? We want to create higher high and hold it. Higher high means anything above 85.78. Hang Seng was not able to do that (in their case to cross previous top of 83.95 HKD) - high of the day was 83.9 and closed 83.35. Higher high would mean lesser probability of double top pattern now being developed in the chart - Baba famous "crown" with tops 85.78, 84.78 and the one top of today. Let's see how it plays out but "topping formation" and overbought levels of RSI suggest there might be a pullback again to at least 81.

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