As of August 3, Alibaba (NYSE: BABA) traded at $127.82, up 4.46% in early trading and 7.01% in Hong Kong. The stock is up about 39% from its 52-week low of $91.99 on June 26, has broken the $121.41 resistance, and reclaimed the 50 and 100-day EMAs ($115.85 and $116.16), though it is overbought with the RSI above 80. The stock faces $128.04 resistance. The company reports earnings on August 17 before the market opens, with expected revenue of RMB268.86 billion (+8.6% YoY) and adjusted EPS expected down 29% to RMB10.46 per ADS. The average target for BABA is $189.81. The move is driven by Alibaba's global release of its Qwen3.8-Max AI Model before the open-weights release next week, with Qwen ranking 5th in Text Arena and 2nd in Vision Arena, and by combining enterprise AI tools into a single DingTalk platform. Qwen's efficiency, with 14.3% fewer parameters and 8.7% lower active work load, appeals to cost-sensitive enterprises. The move also captures enthusiastic trading starting July 8, following news that profits had become less volatile and instant commerce losses had declined, after a quarter with adjusted EBITA dropping