Alibaba Group Holdings Ltd. (BABA) Elliott Wave Analysis – Trading Lounge Daily Chart Analysis

BABA Elliott Wave Technical Analysis

Function: Trend

Mode: Impulsive

Structure: Motive

Position: Wave (5) of C

Direction: Upside within wave (5)

Details:

Alibaba (BABA) continues its upward movement within wave (5) of Primary wave C, indicating a long-term corrective phase retracing the 2021 decline. Key resistance is anticipated around $168, where wave C could potentially equal wave A.

Alibaba Group Holdings Ltd. (BABA) Elliott Wave Analysis – Trading Lounge 1-Hour Chart Analysis

Function: Trend

Mode: Impulsive

Structure: Motive

Position: Wave 1 of (5)

Direction: Upside within wave (5)

Details:

Alibaba remains in an upward trajectory within wave (5), nearing the completion of wave 1 of (5). A wave 2 pullback is expected, offering a critical point to evaluate whether the movement represents wave 1 of (5) or marks the end of wave (5). With resistance approaching, upside potential may be limited in the near term.

Technical Analyst: Malik Awais

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Conclusion

This Elliott Wave analysis assesses trend structures across financial markets, identifying potential resistance and retracement levels. For Alibaba (BABA), the key focus remains on wave (5), with $168 as a crucial resistance level that could define the completion of the corrective rally.