The analyst is bullish on BABA, expecting a 200% gain to the wave 3 target at $320 based on technical and fundamental analysis.
Wave 2 completes at 0.618 Fib and 200 WMA; Wave 3 target at 1.618 Fib matches all-time high at $320; bullish cup and handle formation; strong fundamentals; buying fundamentally strong companies at or under 200 WMA has historically been rewarded.
$BABA The perfect chart doesn't exist....but $BABA right now comes very close. - Wave 2 completes at the 0.618 Fib and the 200 WMA ✅ - Wave 3 target is always set at the 1.618 which is EXACTLY the All Time High level at $320✅ - Bullish Cup and Handle formation✅ - Strong fundamentals✅ I have shown for the last 4 years that if you buy fundamentally strong companies at or under their 200 WMA, you will be rewarded $BABA is a perfect example of this right now. $BABA can gain +200% from here to get to its Wave 3 target.
| Horizon | Raw move | vs SPY |
|---|---|---|
| 1 day | -2.3% | -0.8% |
| 1 week | -9.0% | -8.6% |
| 1 month | +11.0% | +10.6% |
| 3 months | — | — |
| 6 months | — | — |