This stock used to be talked about almost every single night on the “Fast Money” show back when it came up, but then it kinda faded away as attention focused on “FANG”. Now it looks like it could breakout to new highs out of this triangle consolidation pattern and have a quick run into earnings.
BABA reports earnings on February 1st.
If it makes a new high I’d expect it to run into that earnings date, but I have no idea if the earnings will be “good” or “bad.”
It closed right on resistance on Tuesday, so it’s going to get interesting now.