19 Oct

BABA Impulse In The Primary Wave Ⓒ

October 19, 2021

By Orbex

The formation of BABA shares suggests the construction of a large zigzag Ⓐ-Ⓑ-Ⓒ.

Apparently, the construction of the middle part of this zigzag correction Ⓑ has come to an end. It consists of three main sub-waves (A)-(B)-(C) of the intermediate degree. The final part of the intermediate impulse wave (C) took the form of an ending diagonal of the minute degree.

Most likely, we are currently at the beginning of the development of a bullish wave Ⓒ, which can take the form of a simple impulse. Its growth may end above the level of 274.86, which was marked by the correction wave (B).

BABA

Free Reports:

Sign Up for Our Stock Market Newsletter – Get updated on News, Charts & Rankings of Public Companies when you join our Stocks Newsletter





Get our Weekly Commitment of Traders Reports - See where the biggest traders (Hedge Funds and Commercial Hedgers) are positioned in the futures markets on a weekly basis.




An alternative scenario assumes the continuation of the development of the primary correction wave Ⓑ. It can take the form of an intermediate triple zigzag (W)-(X)-(Y)-(X)-(Z).

The actionary wave (W) is a minor double zigzag, and the second actionary wave (Y) is a triple zigzag.

In the near future, the price could rise in the intermediate intervening wave (X) to the level of 191.11, where it will be at 38.2% of wave (Y).

Then we can expect a decline in the actionary wave (Z) near 54.98. At that level, intermediate waves (Y) and (Z) will be equal.

Orbex-LogoArticle by Orbex

Orbex is a fully licensed broker that was established in 2011. Founded with a mission to serve its traders responsibly and provides traders with access to the world’s largest and most liquid financial markets. www.orbex.com


investmacro cot newsletter




Financial News Stock Market News