Alibaba's Jittery Fakeout Explained (Technical Analysis)

Justin Ward profile picture
Justin Ward
1.61K Followers

Summary

  • Latest earnings came in better than expected for Alibaba.
  • There are a few different factors that are stalling a bullish third wave.
  • An initial attempt in June resulted in a fakeout, but price has still stayed above the recent low of $73.
  • We will examine all factors facing Alibaba that may have its share price stagnating and go through all the technicals looking for a second attempt at a breakout.

China-Based Internet Company Alibaba Debuts On New York Stock Exchange

Andrew Burton

As we're all coughing from the latest dust created by equity markets stomping their hooves in a second attempt at bullish aggression, Alibaba Group Holding Limited's (NYSE:NYSE:BABA, OTCPK:BABAF) fortunes don't immediately appear that bullish. However, Alibaba has

Alibaba

Alibaba current macro structure. Monthly chart (C Trader )

Alibaba

Alibaba monthly with extended Fibonacci levels (C Trader )

Alibaba

Alibaba weekly (C Trader )

This article was written by

Justin Ward profile picture
1.61K Followers
Justin Ward is a derivatives trader, future pricing analyst and the author of The Ward Three Wave Theory. Justin is noted for his sucessful directional and exact future pricing calls for major Equities-Indicies and Commodities.Justin wrote the Ward Three Wave Theory to assist aspiring traders and finance professionals to understand how financial markets move from one price region to another. The book has been successfully sold worldwide.Justin provides both training in how to identify future pricing using wave theory to companies and corporations as well as freelance future pricing analysis. If you would like to enquire please message via Seeking Alpha or Linkedin/JustinWard.You can find the link to the book below.https://www.barnesandnoble.com › t...The Ward Three Wave Theory by Justin Ward | NOOK Book (eBook)

Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

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