ALIBABA GROUP HOLDINGS LTD.: WAVE ANALYSIS

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ALIBABA GROUP HOLDINGS LTD.: WAVE ANALYSIS
Scenario
TimeframeWeekly
RecommendationBUY
Entry Point95.03
Take Profit121.50, 158.50
Stop Loss81.25
Key Levels40.00, 57.15, 81.25, 121.50, 158.50
Alternative scenario
RecommendationSELL STOP
Entry Point81.20
Take Profit57.15, 40.00
Stop Loss89.20
Key Levels40.00, 57.15, 81.25, 121.50, 158.50

Growth is possible.

On the daily chart, a downward correction of the higher level ended as the wave 2, within which the wave (C) of 2 formed, and the development of the third wave 3 started. Now, the first wave of the lower level 1 of (1) of 3 has formed, a local correction has developed as the second wave 2 of (1) of 3, and the third wave 3 of (1) of 3 is developing, within which the wave iii of 3 is forming. If the assumption is correct, the asset will grow to the area of 121.50–158.50. In this scenario, critical stop loss level is 81.25.

ALIBABA GROUP HOLDINGS LTD.: WAVE ANALYSIS

ALIBABA GROUP HOLDINGS LTD.: WAVE ANALYSIS

Main scenario

Long positions will become relevant above the level of 81.25 with the targets at 121.50–158.50. Implementation period: 7 days and more.

Alternative scenario

A breakout and the consolidation of the price below the level of 81.25 will let the asset go down to the area of 57.15–40.00.

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