$BABA TOP 20
Added 2024-05-13 17:08:49 +0000 UTC$BABA and the HSI are moving together and this has moved very strong leading up to earnings.
We can see that there was a retest on the red line and the 200 Day MA and that was used to aggressively bounce higher leading into earnings tomorrow.
This can still run as high as the 1.618 Fib at $87 and our blue line before needing to pull back, if they report an impressive earnings tomorrow with no surprises.
If it is not strong, I will expect this to pull back again before it can go higher.
The 50 and 200 Day MA will be what we are watching.
The pull backs in this Wave 3 have been minimum, so if you have not added at this stage, waiting for Wave 4 to complete makes the most sense now.
Comments
Would you be selling a percentage once it reaches the wave 3 and buy it again once at wave 4?
Manuel
2024-05-13 17:33:08 +0000 UTC
