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.
Indicators
Overall recommendation Active Buy
Overall recommendation Buy
Overall recommendation Wait
Overall recommendation Wait
Overall recommendation Wait
Overall recommendation Sell
Overall recommendation Sell