$BABA TOP 20
Added 2023-12-19 15:49:20 +0000 UTC$BABA is making a nice move today, pushing towards its previous high level at $75.55, a break above this level and we are into our 5th wave since the potential bottom at $70, this is what we want to see, a bounce in 5 waves and not 3 waves.....if we only see 3 waves, then it would imply that this is a corrective wave and 5 waves down would come next.
If $BABA can get above $75.55, then the next test will be the 200 Day MA on the 1hr chart at $77.
I do not mind how long this takes, as long as it moves in an impulse wave.
Getting above the 200 Day MA and holding support here an it can make an attempt at the gap fill next to $87.
We are slowly getting there.
Comments
Thanks for the update! If I recall correctly, my average of $89 is higher than yours. Will you average down? I'm still hesitant. I'm comfortable with the size of my position and increasing it gives my huge China exposure (due to holding $NIO). I would appreciate hearing your thoughts on this.
Thomas
2023-12-19 16:21:59 +0000 UTC
