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
That's what I think too. But BABA might want to fill the lower gap first at $80 before a move up? We'll see
jagadishkumar12
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Yes I agree with the price gap dilemma. But if this is part of a larger correction, then the gap may be filled in the next higher degree down? We will have to wait and see