Short term Elliott Wave view of Alibaba (BABA) calls for the rally from Dec 24, 2018 low ($129.1) as a 5 waves impulse Elliott Wave structure. Up from there, wave ((1)) ended at $142.51 and wave ((2)) pullback ended at $129.99. Wave ((3)) rally ended at $153.35 and wave ((4)) pullback is proposed complete at $146.54. The stock still needs to break above wave ((3)) at $153.35 to avoid a double correction.
As an Impulse, internal of wave ((1)), ((3)), and ((5)) subdivide in 5 waves of lesser degree. Within wave ((3)), we see the lesser degree Impulse in wave (1) at $131.15, wave (2) at $130.05, wave (3) at $147.54, wave (4) at $142.06, and wave (5) at $153.35. Wave ((4)) pullback ended as a double three Elliott Wave structure, where wave (W) ended at $148.88, wave (X) ended at $153.38, and wave (Y) ended at $146.54.
Near term, expect Alibaba to extend higher in wave ((5)) while it stays above $146.54. Potential target wave ((5)) can reach as high as $160 – $163 area when wave ((5)) = ((1)). Afterwards, cycle from Dec 24, 2018 should end and Alibaba can pullback to correct that cycle in 3, 7, or 11 swing.
As an Impulse, internal of wave ((1)), ((3)), and ((5)) subdivide in 5 waves of lesser degree. Within wave ((3)), we see the lesser degree Impulse in wave (1) at $131.15, wave (2) at $130.05, wave (3) at $147.54, wave (4) at $142.06, and wave (5) at $153.35. Wave ((4)) pullback ended as a double three Elliott Wave structure, where wave (W) ended at $148.88, wave (X) ended at $153.38, and wave (Y) ended at $146.54.
Near term, expect Alibaba to extend higher in wave ((5)) while it stays above $146.54. Potential target wave ((5)) can reach as high as $160 – $163 area when wave ((5)) = ((1)). Afterwards, cycle from Dec 24, 2018 should end and Alibaba can pullback to correct that cycle in 3, 7, or 11 swing.
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14 days trial --> elliottwave-forecast.com/plan-trial/ and get Accurate & timely Elliott Wave Forecasts of 78 instruments. Webinars, Chat Room, Stocks/Forex/Indices Signals & more.
免責事項
これらの情報および投稿は、TradingViewが提供または承認する金融、投資、取引、またはその他の種類の助言もしくは推奨であることを意図したものではなく、またこれらに該当するものでもありません。詳細は利用規約をご覧ください。