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Elliott Wave View: Alibaba Has Started the Next Leg LowerShort term Elliott Wave view in Alibaba (BABA) shows an incomplete sequence from May 4, 2019 peak. The decline from there can either unfold as a zigzag or impulsive Elliott Wave structure. We use the impulsive structure as the chart below shows that the rally to $183.44 ended wave ((2)). This means, Alibaba is now within wave ((3)) lower. In Elliott Wave Theory, wave ((3)) is typically the strongest and longest wave in impulse structure. Wave ((3)) is currently in progress as an impulse Elliott Wave structure where the stock is ending wave (1) of ((3)). Down from $183.44, wave 1 ended at $173.32, wave 2 ended at $180.24, wave 3 ended at $160.02, and wave 4 ended at $165.58 Another leg lower should end wave 5 of (1). The stock should then bounce in wave (2) to correct cycle from May 15, 2019 high before the decline resumes. We don’t like buying the stock and expect any rally to fail in 3, 7, or 11 swing for further downside as far as bounce stays below $183.48. A conservative target where the 3 swing from May 4, 2019 peak reaches equality comes at $149.7 – $156.2.
NYSE:BABAShort
by Elliottwave-Forecast
Alibaba Elliott Wave Structure Looking for more downsideElliott Wave view in Alibaba (BABA) shows that the stock has an incomplete bearish sequence from 6.5.2018 high ($211.7). The 100% target in 7 swing comes at $88.3 and this view remains valid as far as the stock stays below 12.3.2018 high ($168.8). Near term, decline from 12.3.2018 high ended a 5 waves structure in black wave ((1)) at $129.10. Above from there it ended black wave ((2)) bounce at 142.57 peak. After missing the equal legs from 12/24 low (blue box) by a few cents. The internals of black wave ((2)) unfolded as an Elliott Wave double structure. Where it ended blue wave (W) at 138.94 and blue wave (X) at 133.89. Above from there it ended blue wave (Y) of black wave ((2)) at 142.57 peak. As long as it stays below that level but more importantly the pivot at 146.34 stays intact, it should continue trading lower. The right side is to the downside.
NYSE:BABAShort
by Elliottwave-Forecast
NYSE:BABA: Let's see where it ends upHi All, Hope all your trades are going well. Posting this chart because I see buying oppotunity for NYSE:BABA Entry NYSE:BABA: Exponential Moving Average (200) 122.09 The current RSI is showing close to being oversold, and starting to create a falling wedge Shortterm I expect the price to pullback, in a bearish breakdown There is a possibility that BABA has bullish reversal however, I will be patient for the trade to come to me instead of chasing it Please let me know what you think because this could go the complete opposite of what the chart shows Objectively still bullish on NYSE:BABA Be sure to follow me and like this post if it was helpful, and thank you all. Like the Phoenix we will rise from the ashes Happy trading People....
NYSE:BABALong
by letsgetit
aliBABA Black SheepIll link a video i made for the fam alongside this, so if you're more interested, check that out. It is about 10 minutes and has some info on the DJI also (2nd part of a 2 part video) Ima keep this straight forward. None of this surprised me. Before the trade wars even started I knew we would be back down. The only different, is that I did not think we would fall under the yellow line. But knowing that the trade wars were ramping up [ alongside many other problems in the Chinese markets, it was pretty easy to see. The main thing now, is that we are under the downwards trend line that was formed from the highs earlier in the year. I was surprised that the price went back above the line, but not surprised that it did not stay above it. I expect the pink area to be the area of major support and a good point to buy back in at. Though TBH, the .75 is probably a bad place, considering that if it hits the .75, it is then under a massive amount of resistance. and there is pretty much 0 reason to buy Alibaba between 159-168 dollars. I expect to see a wedge with the base price between 172 and 176 dollars. I'll keep updating though as time goes on.
NYSE:BABA
by TrendLINEBoys
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