To which direction? 170 is a massive and important line. I held shorts in $BABA north of 200, covered under 180. Played the usual bounce through $TCHEY, $MOMO. Very important 10 point channel here between 170-180. There could be a rebound, but getting to 200 would mean some serious news or new money, which is hard to grab here. Short here or above 180, or any other related Chinese stocks with a stop at 190.
BABA has been riding the AMZN wave, so it’s more properly priced around 140.