ALIBABA GROUP HOLDINGS LTD.: WAVE ANALYSIS

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ALIBABA GROUP HOLDINGS LTD.: WAVE ANALYSIS
Scenario
Time intervalWeekly
RecommendationSELL
Entry point75.59
Take Profit60.00, 50.00
Stop Loss80.35
Key levels50.00, 60.00, 80.35, 90.25, 103.00
Alternative scenario
RecommendationBUY STOP
Entry point80.40
Take Profit90.25, 103.00
Stop Loss77.10
Key levels50.00, 60.00, 80.35, 90.25, 103.00

The probability of descent remains unchanged.

On the daily diagram, the downward correction of the upper level continues to develop as wave 2, within the limits of which wave (C) of 2 is forming. Currently, the third wave 3 of (C) has formed, a local correction as of fourth wave 4 of (C) and we can observe fifth wave 5 of (C), whose limits are forming a local correction as second wave ii of 5 of the lower level. If the prediction is correct, the asset price will grow to the area of ​​60.00–50.00. In this scenario, the critical Stop Loss level is 80.35.

ALIBABA GROUP HOLDINGS LTD.: WAVE ANALYSIS

ALIBABA GROUP HOLDINGS LTD.: WAVE ANALYSIS

The main scenario

Short positions are current below level 80.35 with targets at 60.00–50.00. The completion period is: 7 days and more.

Alternative scenario

Breaking and fixing the price below the level of 80.35 will allow the trading instrument to continue the upward dynamics to the area of ​​90.25–103.00.


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