BABA – Elliot Wave on Weekly
BABA – Elliot Wave on Weekly

BABA has been in a downtrend since November 2020. Within this downtrend we have completed the Elliot Wave on the weekly chart.

Using volume profile, above 230 is an ideal entry for calls or shares since we have light volume above that level.

Price points I am looking at:

Entry: 230.09

Target: 263.37

Buying 1/4 size position @ 220 then full position @ 230 would not be a bad play. This is a longer term play so patience is a virtue.

Simple, yet printable..

Weekly Chart

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