The level the bears must not breach in order for this count to remain valid is $58. As long as $58 holds, initial targets near $140 remain plausible. Given Alibaba 's high business quality, $200 and beyond is not out of reach either in the long term. The next couple of years may look nothing like the past three. In our Elliott Wave PRO subscriptions we provide analyses of Bitcoin, Gold, Crude Oil, EURUSD, USDCAD, USDJPY and the S&P 500 every Sunday and Wednesday! Check them out now! Disclaimer: The author is long Alibaba in The EWM Interactive Stock Portfolio.