BABA: wave C>1.414 wave A. ABC appears done. Bounced off S3.

Long

Alibaba Group Holdings Ltd. (NYSE:BABA)

Updated

NYSE:BABA Alibaba Group Holdings Ltd.

Wave Analysis

waveanalysis

Looking for a v-shaped recovery. MACD turning upwards and could cross the fast line soon.

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Although the wave 2 bottom is in, the subsequent wave 3 up is anaemic. 5 consecutive unconvincing candles (dojis mostly) make the life of a BABA bull rather uneasy.

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