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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. 

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. 

Technical Analyst : Alessio Barretta

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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