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BABA – Breakout Follow-Through | Wave 5 In Progress

Context
- Weekly and daily timeframes
- Multi-year base already completed
- Prior impulsive advance followed by a controlled Wave 4 retracement
- Breakout confirmed last week

What I see
- Wave 4 pullback resolved cleanly
- Breakout last week confirmed the end of the corrective phase
- Price has advanced +20% from the breakout area in the last two weeks
- Momentum accelerated after price rejected a pullback toward the breakout zone
- Yesterday’s near +4% close and strong pre-market action signal continued demand
- Structure is now consistent with an active Wave 5 advance

What matters now
- The 50-day MA and former breakout area near $156 should now act as support
- Holding above this level keeps the impulsive structure intact
- Next resistance sits at the prior Wave 3 high around $192
- A clean break above $192 confirms Wave 4 completion beyond doubt

Buy / Accumulation zone
- Initial breakout already played
- Ideal adds come only on controlled pullbacks toward support
- Risk remains clearly defined against the recent higher low

Targets
- Wave 5 target remains the $230 area
- This level aligns with the next major upside reference within the broader reversal

Portfolio note
- currently represents ~3% of my portfolio
- Comfortable holding this position into 2026
- Acts as a solid diversification hedge versus the US market