55 % chance - ALIBABA share price analysis

Hello all,

Today I am taking a look at the Alibaba chart,

- The price is in a positive overriding trend.
- Alibaba shows a tendency to break through the golden pocket once in a correction, but then to continue to run positively in the trend.
- This breakthrough has already been made in the current correction.
- The second reaction at the golden pocket looks encouraging
- In the long term, the current trend channel could consolidate further

The plan

- I would like to take a long position at the cross-support of the golden pocket and the lower trend lines.
- If the price does not touch the golden pocket again in combination with a trend line, I will not find an entry point and remain a spectator.
- As a long-term price target I use the trend-based Fib extension
- One for the watchlist, no trade is acute yet

Buy zone: 227 - 222 points, only in combination with a trend line
Target zone: 360 points

With this in mind,

Good luck & Keep it simple!

Max