ALIBABA GROUP HOLDINGS LTD.: WAVE ANALYSIS

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ALIBABA GROUP HOLDINGS LTD.: WAVE ANALYSIS
Scenario
TimeframeWeekly
RecommendationSELL
Entry Point76.55
Take Profit60.00, 50.00
Stop Loss84.60
Key Levels50.00, 60.00, 84.60, 103.00, 121.18
Alternative scenario
RecommendationBUY STOP
Entry Point84.65
Take Profit50.00
Stop Loss103.00, 121.18
Key Levels50.00, 60.00, 84.60, 103.00, 121.18

The probability of decline remains.

On the daily chart, the construction of a downward correction of the higher level continues as wave 2, which includes wave (C) of 2. At the moment, the third wave 3 of (C) and the local correction as the fourth wave 4 of (C) have ended. If the assumption is correct, the asset will decrease to the area of 60.00–50.00. The level of 84.60 is critical and stop-loss for this scenario.

ALIBABA GROUP HOLDINGS LTD.: WAVE ANALYSIS

ALIBABA GROUP HOLDINGS LTD.: WAVE ANALYSIS

Main scenario

Short positions are relevant below the level of 84.60 with targets at 60.00–50.00. Implementation time: 7 days and more.

Alternative scenario

Breakout and consolidation of the price above 84.60 will allow the instrument to continue its uptrend to the area of 103.00–121.18.


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