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Alibaba Group Holdings Ltd, Elliot Wave Analysis
12/22/2022 10:01 AMA fall is possible.
On the daily chart, the first upward wave of the higher level 1 formed, and a downward correction develops as the wave 2, within which the wave (C) of 2 forms. Now, the third wave of the lower level 3 of (C) and the local correction as the fourth wave 4 of (C) have ended, and the development of the wave 5 of (C) is starting. If the assumption is correct, the price of the asset will fall to the area of 45.00–30.00. In this scenario, critical stop loss level is 94.49.
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