The price in BABA is moving in a clear down trend by forming in this way a descending channel pattern. After correcting for almost 4 days the price may do the next step again Probability it's very high that we may see the price reaching $ 138. In that zone we may see a strong support area that may change the direction of the price again if the volume will remain the same as it is now.
PS: Any breakout of the price above the channel would increase the chances a higher movement.