BABA - The shelling continues!
After the surprisingly good results of Alibaba on 24.2.2022, many investors hoped that these results would trigger a major reversal.
However, a bullish reversal is still nowhere in sight and we as Mendenmein-Capital continue to expect that the bloodbath in Alibaba isn't over.
BABA
New investors in particular, shouldn't panic and read the following article carefully.
A merciless two-year bear market may be coming to an end sooner than most investors assume.
Technical Explanation of the elliot wave structure:
As expected, Alibaba failed to build a new high above the resistance at $138.70, downward pressure remains and we already saw massive weakness in the last trading days.
Since our last published analysis on 1/18/2022, the stock fell more than -24%. Therefore, our forecast came true and we do not see any bullish breakout opportunity from the current downtrend at the moment. The next target is the $88.90 to $83.06 range, further sell-offs are possible depending on the volatility.
Afterwards, a small corrective recovery (red wave (iv)) should take place, a final sell-off below $80 should follow. The correction should come to an end in the range of 70$ to 80$. An exact price target can be calculated after the completion of the corrective wave (iv).
We will ensure to keep investors informed about this development. Investors in Alibaba should remain optimistic, a very large 1-2 cycle wave is coming to an end in the next few months.
In our last analysis, we explained Alibaba's wave cycle and highlighted the massive opportunities in the future. In the next few years, prices above $200 to $300 are quite realistic.
Feel free to visit our website for more articles and information! www.mendenmein-capital.com
However, a bullish reversal is still nowhere in sight and we as Mendenmein-Capital continue to expect that the bloodbath in Alibaba isn't over.
BABA
New investors in particular, shouldn't panic and read the following article carefully.
A merciless two-year bear market may be coming to an end sooner than most investors assume.
Technical Explanation of the elliot wave structure:
As expected, Alibaba failed to build a new high above the resistance at $138.70, downward pressure remains and we already saw massive weakness in the last trading days.
Since our last published analysis on 1/18/2022, the stock fell more than -24%. Therefore, our forecast came true and we do not see any bullish breakout opportunity from the current downtrend at the moment. The next target is the $88.90 to $83.06 range, further sell-offs are possible depending on the volatility.
Afterwards, a small corrective recovery (red wave (iv)) should take place, a final sell-off below $80 should follow. The correction should come to an end in the range of 70$ to 80$. An exact price target can be calculated after the completion of the corrective wave (iv).
We will ensure to keep investors informed about this development. Investors in Alibaba should remain optimistic, a very large 1-2 cycle wave is coming to an end in the next few months.
In our last analysis, we explained Alibaba's wave cycle and highlighted the massive opportunities in the future. In the next few years, prices above $200 to $300 are quite realistic.
Feel free to visit our website for more articles and information! www.mendenmein-capital.com
Yorum:
See our latest analysis on alibaba !
Yorum:
NEW UPDATE AFTER THE 20% PUMP:
Technical View
In our analysis from 15.3.2022, we stated that wave (iii) has ended and that we will see a recovery to the range of 87$-95$ in wave (iv).
This has now happened exactly as predicted just one day later in a strong 20% gain for alibaba.
We assume that the stock will be in wave (iv) for the next days or weeks. It is possible that wave (iv) can extend to the 0.5 retracement at 101.34$. We do not intend to open a short position.
Regardless of the positive news we still anticipate that the stock will begin its final sell-off to the 0.786 retracement at $68.33 in wave (v).
Technical View
In our analysis from 15.3.2022, we stated that wave (iii) has ended and that we will see a recovery to the range of 87$-95$ in wave (iv).
This has now happened exactly as predicted just one day later in a strong 20% gain for alibaba.
We assume that the stock will be in wave (iv) for the next days or weeks. It is possible that wave (iv) can extend to the 0.5 retracement at 101.34$. We do not intend to open a short position.
Regardless of the positive news we still anticipate that the stock will begin its final sell-off to the 0.786 retracement at $68.33 in wave (v).
If you should have any questions regarding our analysis or elliot wave counts feel free to contact us.
