The Long Investor

$BABA TOP 10 and TOP 20

Added 2025-03-19 13:01:11 +0000 UTC

$BABA is at the ascending triangle top line again after peaking its head above this level at the start of the week and cooling off yesterday with the US market.

This formation and set up is still very much to the bulls advantage and once $145 is converted to support then I believe the next stop is our Wave 3 target at $164 at the 1.618 Fib, which has been on our chart for over a year now.

As always with our Wave 3 target, once we see a rejection at this level, I will trim -20% of my position in $BABA and re add again on the Wave 4 pull back support before the next leg up to complete Wave 5, getting maximum benefit of the wave movement.

I do not suggest trimming any more at this Wave 3 target because the momentum is still behind this structure right now.