Alibaba: Key Levels Supporting the Stock's Short-Term Uptrend

$BABA-W(09988)$ rallied 52% in Sep 2024.

Since reaching a high of 118hkd, price retraced and corrected near to 20% from its high.

What are the prices that still support the stock showing a short-term uptrend?

I mapped the price levels in a chart below.

Support levels:

1. 96-98

2. 84-85

If $BABA-W(09988)$ stays above and supported by these levels, then the short-term uptrend is still intact.

Note that the stock is still range-bound - probably why historical support and resistance levels are holding so well.

Short-term trading consideration with DLCs:

At support, long DLCs: $Alibaba 5xLongSG250904(DISW.SI)$

At resistance, short DLCs: $Alibaba 5xShortSG250320(IXJW.SI)$

Alibaba - price that stock must maintain to keep its short-term uptrend movement

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