BABA(Alibaba )Hello friends
In Alibaba stock, we observed a 5 micro wave after a complete correction
which was contrary to the descending rune
We call these 5 small waves wave 1 or A.
After these 5 micro-waves, we see a 5-wave with overlapping waves that is similar to a triangle.
Triangles are seen in wave 4 or B.
Therefore, in both scenarios, the share price should reach the range of 100 with 1.618% of Wave A.
1.618% Fibonacci is associated with a static resistance that increases the probability of reaching it.
Therefore, you can enter a buy position by setting a loss limit of about 70 dollars.
Be successful and profitable.
