$BABA TOP 20
Added 2023-08-17 12:24:22 +0000 UTCIt has not been pretty but $BABA has bounced where it needed to....at least in the short term and the impulse wave is valid.
We can see that there was a strong confluence level where the yellow trend line crossed through the blue line and the price action hit it exactly, it needed to bounce there and it has and the price is above the 50 and 200 Day MA in the PM now, we want to see the price stay above $91 going forward.
My count remains the same and although China ordered companies not to sell any Chinese stocks today, what the market really needs is a strong announcement about their stimulus plans.....feels like I have been saying the same line for weeks now.
Ironically, if this is done by China, this will also help US stocks rebound too.
