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Alibaba Group Holdings Ltd., Elliot Wave Analysis

7/7/2022 1:46 PM

The price may grow.

On the daily chart, the first upward wave of the higher level 1 formed, a downward correction developed as the wave 2, and the formation of the third wave 3 started. Now, the first wave of the lower level 1 of (1) of 3 is developing, within which the wave iii of 1 is forming. If the assumption is correct, the price of the asset will grow to the levels of 182.60–232.33. In this scenario, critical stop loss level is 80.35.






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