The Long Investor

$BABA TOP 20

Added 2024-01-07 19:28:49 +0000 UTC

Finished the week with a streak of red but finished at the perfect spot for a wave 2 pull back at the 0.618 - 0.65 Fib to complete.....but it needs to bounce on this level tho.

We know that it can go to a lower Fib level, the 0.78 Fib next but what we have observed is that, whenever the 0.618 Fib is lost for Wave 2, this is then showing that there is weakness and a lot is needed from the bulls to step in, the impulse still remains perfectly valid at lower Fib levels too.

I am considering adding to my $BABA position if support is comfortably found shortly.

I am not selling any $BABA even if we make new lows, I will continue to add to my average and have no problem holding this long term. Fundamentals are too strong for me to sell at these levels.