- Alibaba broke the key resistance level 145.00
- Likely to rise to resistance level 155.00
Alibaba recently broke the key resistance level 145.00, which stopped the previous waves 3 and (b), as can be seen from the daily BABA chart below.
The breakout of the resistance level 145.00 accelerated the active impulse wave 5 of the intermediate impulse wave (C) from January.
Given the strong daily uptrend, Alibaba can be expected to rise to the next resistance level 155.00 (target price for the completion of the active impulse wave (C)).
By the FxPro Analyst Team
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By the FxPro Analyst Team
Follow our dedicated Telegram channel t.me/fxpro for insightful market analysis and expert commentary.
Reach out to media.comments@fxpro.com for PR and media inquiries
Follow our dedicated Telegram channel t.me/fxpro for insightful market analysis and expert commentary.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.