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Alibaba Group Holdings Ltd.,(BABA) Stocks Elliott Wave Technical Analysis


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BABA Elliott Wave Analysis Trading Lounge Daily Chart,

Alibaba Group Holdings Ltd.,(BABA) Daily Chart

BABA Elliott Wave Technical Analysis

FUNCTION: Trend

MODE: Impulsive

STRUCTURE: Motive

POSITION: Minute {i} or {a}.

DIRECTION: Correction in {ii}.

DETAILS: We had five waves up in either a wave C, or else as shown in the chart we could be in wave {i} of else 3. 

 Stocks24.thumb.png.408a473aaceafe0fdb2a38c1fbb3e57b.png

 

 

 

 

 

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BABA Elliott Wavse Analysis Trading Lounge 4Hr Chart,
Alibaba Group Holdings Ltd.,(BABA) 4Hr Chart
BABA Elliott Wave Technical Analysis
FUNCTION: Trend
MODE: Impulsive
STRUCTURE: Motive
POSITION: Minute {i} or {a}.
DIRECTION: Correction in {ii}.
DETAILS: Looking for a correction around TL8 at 80$, ideally looking for a ClassicTradingLevelsPattern(CTLP) around 80$ to then looking for longs. 
 
Stocks24(1).thumb.png.11bfaf22802f7b6b95f366d4c6f6ed48.png
 
 
 
Technical Analyst Alessio Barretta
Source : Tradinglounge.com get trial here!
 

In the realm of Elliott Wave analysis, Alibaba Group Holdings Ltd. (BABA) presents an intriguing setup, with both the daily and 4-hour charts indicating potential corrections amidst an overall impulsive trend.
 
 
* BABA Elliott Wave Technical Analysis – Daily Chart*
On the daily chart, BABA's trend is identified as impulsive, with a motive structure, likely positioned in either Minute {i} or {a}. However, the analysis suggests a corrective phase in Minute {ii}, following a five-wave uptrend, possibly representing Wave C or {i} of Wave 3. This interpretation indicates a temporary pullback before potential continuation to the upside.
 
* BABA Elliott Wave Technical Analysis – 4Hr Chart*
Similarly, the 4-hour chart echoes the impulsive trend structure, with BABA positioned in either Minute {i} or {a}. The analysis anticipates a correction in Minute {ii}, providing an opportunity for traders to capitalize on potential long positions. The correction is projected to occur around the Classic Trading Levels Pattern (CTLP) at $80, which could act as a significant support level.
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