Alibaba (9988.HK): The Breakout That Broke — Key Levels to Watch
@Binni Ong:
$BABA-W(09988)$ is one of China's largest technology conglomerates, spanning e-commerce, cloud computing, logistics, and digital media. In this analysis, follow the technical chart story of 9988.HK from Breakout → Failed Retest → Breakdown → Next Support. Alibaba 9988.hk ① Breakout of 3-Year Base From 2022 to mid-2024, price consolidated between HKD 60–120. It broke out of this base in late 2024, fuelled by a strong earnings report in August 2025 — net profit jumped 76% year-on-year and cloud revenue grew 26%. The rally extended all the way to approximately HKD 185. ② Failed to Hold HKD 110 — 'Unbreak' Price pulled back sharply and failed to hold above HKD 110 — a level that had previously acted as resistance and support. Price closing back below