Price target of $220-230 because the confluence of: - Fibonacci retracement (0.618 - $219.06) from ATH to September '15 low - Fibonacci retracement (0.5 - $223.52) from ATH to December '18 low - Fibonacci retracement (0.382 - $225.76) from ATH to March '20 low - Low side of the parallel channel formed since the IPO - Low side of the broadening wedge formed in December 2018 - Price target of the new descending triangle forming since 16 November 2020 - MACD convergence divergence negative in Weekly - Chinese regulations risk - U.S delisting risk
But probably trend reversal in first weeks of February 2021 when: - New democratic POTUS arrive to the White House in 20 January - New Alibaba earnings release between 02-09 February with sustained growth
Please leave your thoughts to create a better community with better ideas. Do you think I'm right or not? Why?
I'm from Barcelona so sorry if there are some spelling mistakes :)
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Once Price Target achieved, I'm going to buy every share I can.
Thanks for your reply - makes sense.
My point is that we have already reached you buying target. Does it makes sense to buy now or wait and buy closer to feb?
Thanks
Jon
HumanBias
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@jcohen1085, dollar cost averaging it could be an option! But this is not a financial advise!
I’m long in BABA right now
HumanBias
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@jcohen1085, like and subscribe for more opportunities. Interested in some stock?
My point is that we have already reached you buying target. Does it makes sense to buy now or wait and buy closer to feb?
Thanks
Jon