TECH Sell 18.07.2024 08:34
Alibaba Group Holdings Ltd.: wave analysis
A fall is possible.
On the daily chart, the downward correction of the higher level forms as the wave 2, within which the wave (C) of 2 develops. Now, the third wave 3 of (C) has formed, a correction has ended as the fourth wave 4 of (C), and the fifth wave 5 of (C) is developing, within which a correction has ended as the second wave of the lower level ii of 5. If the assumption is correct, the price of the asset will fall within the wave iii of 5 to the area of 60.00–50.00. In this scenario, critical stop loss level is 81.00.
Indicators
Overall recommendation Buy
Overall recommendation Buy
Overall recommendation Buy
Overall recommendation Buy
Overall recommendation Wait
Overall recommendation Buy
Overall recommendation Buy