$BABA UPDATE
Added 2023-04-12 13:59:02 +0000 UTCOk $BABA is pulling back more than expected and I briefly spoke about why I think this is happening in other Chinese and Hong Kong stocks/indices earlier. The War games and closing airspace around Taiwan has spooked the market a little bit, that being said, I still see no concern yet and the structure is still impulse to me, that being said, the 0.38 Fib has broken down, so I am watching for the 0.618 Fib now, which is the normal pull back area. I went with 0.38 Fib for Wave 4 as Wave 2 was shallow and stopped at the 0.38 Fib....but I believe the political news has negatively affected this.
So for now, I am looking at the $93 / 0.618 Fib for support and also watching the 0.5 Fib at $95.31.
Comments
New update after the news with Softbank?
Steele Broderick
2023-04-12 21:30:18 +0000 UTCIt’s 93 now, should i buy?
Martin
2023-04-12 19:42:04 +0000 UTCI see chart BABA coming around 85, looking at chart, wave 2 did not look like ABC, it seems wave 1 of 2, and current wave seems C of wave 2, it could come down to ~85 and fill the gap, today’s drop seems wave 3 of wave C Can you check if I am looking correctly?
Shailesh Patel
2023-04-12 15:15:22 +0000 UTCthanks, it's really comforting to hear this from you
Kaan
2023-04-12 14:15:43 +0000 UTC
