$BABA TOP 20 & TOP 10
Added 2025-01-29 11:28:49 +0000 UTC$BABA is now up to $98 in the PM now after they released their own version of Chatgpt which appears to be even more efficient than DeepSeek which upended the market this week
I believe the timing of this has been orchestrated to perfection, the release of this advanced Ai from China, cheaper and more efficiently is a strong statement that they intend to compete or even lead in the Tech sector over the coming years.
This could trigger the bull market that we have been waiting to confirm in China too.
I have been banging the table about the HSI chart for the last 6 months and the chart has been very clear, it has always been giving us a bullish set up.
So what $BABA now, I am sharing the weekly chart above and as we know, the 200 WMA always behaves like a magnet, with no exceptions and also a big reason why $BABA made it into our Top 10 list for 2025.
I believe this new impulse wave 1 will run to the 200 WMA at $107 and at this point we should get our pull back then for wave 2 and I have added in the small green fib levels to reflect this.
The price is out of the Buy Zone now and it has jumped from $80 to $98 since the start of the year, a surprise to nobody in our group.
That being said, I believe accumulating $BABA under $100 is a sensible approach.
The 1.618 Fib which is standard for Wave 3 remains at $164 which is my target this year, at the very least.
