The analyst views the recent pullback in BABA as a buying opportunity, expecting a Wave 3 upward move next if history repeats.
The pullback is a retest of the 200-week moving average, suggesting a potential rebound and continuation of an upward wave.
$BABA pull back has been stronger than expected but it is a retest of the 200 WMA - Another buying opportunity If History repeats itself, Wave 3 is next. https://t.co/jwab7qdQvu
| Horizon | Raw move | vs SPY |
|---|---|---|
| 1 day | +2.0% | +1.1% |
| 1 week | +8.0% | +6.7% |
| 1 month | — | — |
| 3 months | — | — |
| 6 months | — | — |