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Alibaba Group Holdings Ltd., Elliot Wave Analysis
1/19/2023 10:01 AMGrowth is possible.
On the daily chart, the upward first wave of the higher level 1 formed, a downward correction ended as the wave 2, and the development of the third wave 3 started. Now, the first wave of the lower level 1 of (1) of 3 is forming, within the wave iii of 1 is developing. If the assumption is correct, the asset will grow to the area of 138.80–158.36. In this scenario, critical stop loss level is 83.70.
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