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TECH Sell 11.04.2024 08:37

Alibaba Group Holdings Ltd.: wave analysis

The price is in a correction and a fall is possible.

On the daily chart, a 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 ended, and a local correction is developing as the fourth wave 4 of (C), within which the wave c of 4 is forming. If the assumption is correct, after the end of the correction, the price of the asset will fall to the area of 60.00–50.00. In this scenario, critical stop loss level is 84.60.

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Indicators

MA10
MA20
MA50
MA100
MACD
BBands
Ichimoku
Stochastic
William`s
ZigZag
Overall recommendation Active Buy
MA10
MA20
MA50
MA100
MACD
BBands
Ichimoku
Stochastic
William`s
ZigZag
Overall recommendation Buy
MA10
MA20
MA50
MA100
MACD
BBands
Ichimoku
Stochastic
William`s
ZigZag
Overall recommendation Wait
MA10
MA20
MA50
MA100
MACD
BBands
Ichimoku
Stochastic
William`s
ZigZag
Overall recommendation Wait
MA10
MA20
MA50
MA100
MACD
BBands
Ichimoku
Stochastic
William`s
ZigZag
Overall recommendation Wait
MA10
MA20
MA50
MA100
MACD
BBands
Ichimoku
Stochastic
William`s
ZigZag
Overall recommendation Sell
MA10
MA20
MA50
MA100
MACD
BBands
Ichimoku
Stochastic
William`s
ZigZag
Overall recommendation Sell

Market sentiment

97.49% sell
2.51% buy