Baba back to $320???

I've been tracking Baba for a while and the chart setup right now looks to be setting up for a nice reversal. There is a very strong resistance at $240, however should BABA clear that resistance with good volume, minimal bad headlines and earnings, I'd be looking for it to return back to $320 within the year. Due your DD, however, I am going to go long BABA.
Moving AveragesPennantTrend Lines

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