Watching $BABA at 98.03

Been keeping an eye on $BABA today. It pushed up to 98.03, which is right at yesterday's high. Noticing it's had a bit of trouble breaking and holding above that mark lately. Each time it tests that level, it seems to find some selling pressure.

My thinking is that 98.03 acts as a pretty significant resistance point for the time being. If it manages to clear it convincingly – I'd be looking for a solid close above it, maybe even a retest and hold – then we might see a move towards 99. If it fails to hold, then a pullback to the 96.28 area, or even lower, wouldn't surprise me. The risk, for me, would be if it blasts through 98.03 on high volume and holds, invalidating the resistance narrative. For now, it's just chopping around that upper end of the daily range.