$BABA
Added 2023-03-06 12:23:25 +0000 UTCVery strong pull back with very little relief bounces, just at the 0.5 Fib at $89.55 now and dipping below in the PM. The 0.618-0.65 Fib is so important here now to watch, it needs to hold here or its coming down to our bear case and possibly our buy zone....I will be delighted with this because 1.) It reinforces our projection that this was a corrective wave since hitting the bottom at $58 and 2.) I will get to add in our buy zone, where I feel makes it incredibly undervalued.
Likewise, if it holds the fib levels mentioned above, this is a possibly into the impulse wave and there is a lot of up side potential next.
Comments
It is difficult to say now because the market could drag this down
Gareth Neary
2023-03-10 10:22:51 +0000 UTCAny bias for whether we go back down or go up?
Sean
2023-03-10 02:09:03 +0000 UTC
