$BABA TOP 20
Added 2023-08-27 20:22:00 +0000 UTCUnfortunately for $BABA it did finish the week below the channel trend line and below the 50 and 200 Day MA but managed to stay above the blue support line of $88 which we know is significant.
$BABA has a lot of work to do, it is however still in the Bull Case and making higher lows but if we get another rejection at the 200 Day MA from below again, I doubt this will be able to hold the blue line again.
What I can see is 3 waves in this pull back so far, so this is a positive, so this can only be an ABC from Wave 2, Wave 4 or a corrective ABC count, meaning its next direction is normally up again in 5 waves.
This is what we want to see but this needs to happen early next week, this is also what we want to see from $NIO.
Comments
China Cuts Tax on Stock Trading to Boost Market Confidence. BABA +3% on my broker system now. :) Waiting to see how BABA prepare in US session today.
Mk Yee
2023-08-28 00:22:18 +0000 UTCLetβs hope so. π«‘
Steven
2023-08-27 20:23:19 +0000 UTC
