$BABA
Added 2023-06-05 12:39:50 +0000 UTC$BABA like $JD really battled towards the end of last week after losing crucial support lines, in $BABA's case, breaking down from the wedge but fought back to recapture it immediately after rumours circulated that China will introduce a stimulus package to help its economy after its growth has declined and has been struggling to gain momentum since reopening after Covid.
There is still a bit to do here, the 50 and 200 Day MA are just at the top trend line in the wedge right now, so this is where we should be watching, a break out here and holds, I will be adding here to my position. So we want to see support being held above $88.
I have adjusted my count and being honest, it looks a lot better than I had previously counted, as the pull back from $120 was lacking a clear Wave B....now we have that.
