$BABA TOP 20
Added 2023-12-17 15:38:52 +0000 UTCChinese financial stimulus package certainly helped $BABA this week and at the perfect time too to intervene.
The price was struggling on the 0.78 Fib at $71 and although dropped slightly below and into the Buy Zone, it only managed to stay in this zone for a few hours on 2 days and bounced quite well out of this area.
Price is back into the wedge now and showing a V shape recovery so far, we want to see more of this.
I think over the next few weeks we can achieve the gap fill and go back to our blue line at $88, we need the momentum behind $BABA now.
Even at $88, it is still undervalued.
We do not need to ask if $BABA is a good buy here.
I have said for months now that anything under $90-$100 is a buy.
