Hi Everyone
This is an forecast of Alibaba group Holdings we have completed wave 1 called M1 ( medium term forecast). Time frame for Medium term forecast is usually 2 to 4 weeks.
We are currently in wave M2 which is still progressing but almost in last stage. So price should move downward unless it brakes invalidation Level.
use our tradingview live links for...
Look for short term buys and long term sells for Ali Baba Holdings, we have H1 supply order block from where we can look for sell if we have LTF BOS, if H1 Supply block compromised then look for buying opportunity... H1 Demand zone can act as strong support zone if price broke the zone then look for buys at Daily demand zone
Though the long term bias for Ali Baba holdings is SELL,If price broke 128 level then we can look for retracement buys at Daily demand zone, look for LTF BOS before taking any trade
Alibaba is currently trying to show reversal from Daily chart. The stock has a strong return potential for those who are willing to lock in the money for 6 months to an Year. All short and long term targets are marked!!
Sell on rise around 270-280 with sl above 285 ( daily closing) for target 190. Most of the candles in supply zone couldn't manage to close above open of the respective day which signals that supply is coming at higher levels.
Disc : it's not an investment advice to buy or sell
Alibaba respecting the long term fib levels well. Great Reward:Risk (~3:1) at this level, with stops safely below the Volume Profile POC at ~195 (aggressive), targeting ~320
NYSE:BABA
