ALIBABA has progressed in impulsive 5 wave fashion and is retracing on a 3 wave decline with wave (c) as a potential ending diagonal.
* Wave c of B ending diagonal
* RSI divergence (typical for ending diagonals)
* Retracement close to 0.618 (typical for wave 2 / B)
* Price has potential to move upwards in the coming sessions north of 94
* Wave c of B ending diagonal
* RSI divergence (typical for ending diagonals)
* Retracement close to 0.618 (typical for wave 2 / B)
* Price has potential to move upwards in the coming sessions north of 94
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.