BABA
AlibabaWhat Is Holding Back Alibaba Exponential Growth
The Chinese company Alibaba Group owns more than 900 enterprises, generates a turnover of almost $ 400 billion, and creates tens of millions of jobs.
Alibaba was recently set to conduct the largest IPO in history, bringing its subsidiary Ant Group fintech service to two exchanges at once - Shanghai and Hong Kong. During the IPO, the company planned to raise at least $ 34 billion.
Trading in securities was supposed to begin on November 5, but two days before the start of trading, the IPO was suspended by the Chinese government. As a result, Alibaba shares fell in value.
Alibaba's quarterly revenue beats all the forecasts of the analysts. A big increase is expected in connection with the Black Friday and Cyber Monday holidays.
The latest news: Alibaba will help the government build electric vehicles and has been laying the groundwork for this for more than 5 years by working with the Chinese state-owned automaker SAIC Motor.
Technically, Alibaba is currently in an uptrend, the price is moving in the channel and exponential growth is just around the corner.
Best regards EXCAVO
BABA Alternate wave countAlternate wave count on BABA shows we could be contained in the range of 305-2260 with a prolonged consolidation. Nonetheless, we are still favoring a more bullish outlook on BABA on the medium the longer term into 2021. Exact Trade Execution details in video update.
BABA Bullish Trade Setup BABA dips into wave (ii) support level at 38.2% retracement or 263 setting up for a potential move higher targeting the 340-360 range into 2021. Looking to establish some minor longs on BABA with dips into 263 with either Leaps or Longer Term Bullish Vertical.
What this means?For BABA (NYSE:BABA), we notice a call option trade that happens to be bearish, expiring in 9 day(s) on December 4, 2020. A trader bought 500 contract(s) at a $285.00 strike. The trader or institution spent $135.0K on this trade with a price of $270.0 per contract. There were 4779 open contracts at this strike prior to today, and today 2563 contract(s) were bought and sold.
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Elliott Wave View: New Bullish Cycle in AlibabaShort Term Elliott Wave view in Alibaba suggests the decline from October 27 peak has ended at $252.5 as wave (4). The internal subdivision of wave (4) unfolded as a zigzag Elliott Wave structure. The 60 minutes chart below shows wave C of that zigzag which completed at $252.5. The stock has since turned higher in wave (5).
Alibaba however still needs to break above wave (3) at $319.3 to rule out a double correction in wave (4). Short term rally from wave (4) low at 252.52 is unfolding as a 5 waves impulse structure. Up from wave (4) low, wave ((i)) ended at 258.31 and pullback in wave ((ii)) ended at 252.67. Stock then resumed higher in wave ((iii)) towards 278, and pullback in wave ((iv)) ended at 270.11. Expect the stock to finish wave ((v)) soon and this complete wave 1 of (5) in higher degree. Afterwards, it should pullback in wave 2 of (5) to correct cycle from November 18 low before the rally resumes. As far as November 18 pivot low at 252.52 holds, expect the stock to find support in 3, 7, or 11 swing for the next leg higher.
BABA Next Stop 300NYSE:BABA Reverted back before I was anticipating. Look like it wanna go to the next resistance 300.
BABA downtrend breakout reversalBABA recovering & multiple lvls to play for from 2 fib retracements, previous demand zone, and gap fill. PT as shown in the chart
BABA reverse or retest?286 - 294 seems to be the price to look for reverse trend or just another retest to go lower to at least 250
Alibaba trendline breakout, more upside ! Alibaba has broke out of the bearish trendline and could bounce from the bullish trendline intersection, more upside is available!
BABA - Let's fly!BABA is at rigid support zone over high cluster of volume formed prior.
For this, i long.
