As Alibaba has remained below resistance at $121.28, we’ve ultimately chosen to consider the high of orange wave x as established. Thus, we currently place the stock in bearish wave y, which should conclude the corrective structure of the larger blue wave (ii). From that point, BABA should reverse, climb back above the $121.28 resistance, and move to significantly higher levels—initially completing blue wave (iii), and eventually the larger turquoise wave 3. However, there’s still a 34% chance that our bearish alternate scenario will play out. In that case, the stock would fall between the two support levels at $80.05 and $58.01, where the low of turquoise wave alt.2 would form.
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Publications connexes
Clause de non-responsabilité
Les informations et publications ne sont pas destinées à être, et ne constituent pas, des conseils ou recommandations financiers, d'investissement, de trading ou autres fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.