Alibaba Group Holding Ltd (9988 - HK) - ABC flat wave pattern

Short

ALIBABA GROUP HOLDING LTD (HKEX:9988)

HKEX:9988 ALIBABA GROUP HOLDING LTD

elliottwaves mtfa abc

Alibaba Group Holding Ltd (9988 - HK) is in ABC flat wave pattern in 60 min as the part of X wave down in bigger WXY wave pattern. Wave 2nd is much sharp, which might give one more leg up before go down to 3rd wave down of C wave. Overall market outlook is now positive, so wave 2 can be much deeper.

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