BABA had been doing quite well in year 2017. People likes to compare BABA with AMZN as their business model do have similarities. Looking at the chart you can see that 150MA and 200MA is still on the uptrend indicating a medium to long term bullish of this stock. It formed a hammer at the bottom of the recent fall and it's seems bulilsh for now. Monitor the price movement for the next two session.