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Alibaba Group Holdings Ltd., Elliot Wave Analysis

3/2/2023 10:02 AM

The price is in a correction and may grow.

On the daily chart, 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 has formed, and a local correction is ending as the second wave 2 of (1) of 3. If the assumption is correct, the price will grow to the area of 138.80–158.36. In this scenario, critical stop loss level is 81.93.




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