ALIBABA trading in an ascending channel? 25% potential GAINS

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ALIBABA is clearly trading in an ascending channel. So far it has bounced off the support line.
As u can see there are two ascending channels I have drawn. I hope ALIBABA will break through the first channel (mid white line) so that it can/ might grow to a 25% gain.

My idea is buy at the support, take profit at the first resistance/ take profit at the top.
Stop- loss 5% ish beneatth the support line.

What do you think?

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