ALIBABA GROUP HOLDINGS LTD.: WAVE ANALYSIS

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ALIBABA GROUP HOLDINGS LTD.: WAVE ANALYSIS
Scenario
TimeframeWeekly
RecommendationSELL
Entry Point76.39
Take Profit60.00, 50.00
Stop Loss79.00
Key Levels50.00, 60.00, 79.00, 89.50, 103.00
Alternative scenario
RecommendationBUY STOP
Entry Point79.05
Take Profit89.50, 103.00
Stop Loss75.55
Key Levels50.00, 60.00, 79.00, 89.50, 103.00

A fall is possible.

On the daily chart, a downward correction of the higher level develops as the wave 2, within which the wave (C) of 2 develops. Now, the third wave 3 of (C) is forming, within which a local correction has ended as the fourth wave of the lower level iv of 3, and the fifth wave v of 3 has started. If the assumption is correct, the price of the asset will fall to the area of 60.00–50.00. In this scenario, critical stop loss level is 79.00.

ALIBABA GROUP HOLDINGS LTD.: WAVE ANALYSIS

ALIBABA GROUP HOLDINGS LTD.: WAVE ANALYSIS

Main scenario

Short positions will become relevant below the level of 79.00 with the targets at 60.00–50.00. Implementation period: 7 days and more.

Alternative scenario

A breakout and the consolidation of the price above the level of 79.00 will let the asset grow to the area of 89.50–103.00.


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