Looking at Alibaba, as you know, we have seen a very strong decline from 180 over the last three months, with price also breaking below the lower trendline of the channel. That kind of move can at times suggest we are in a wave three of an impulsive sequence rather than just an A-B-C correction.
At the same time, we are now seeing a decent rebound, but price is still stuck around previous swing highs and lows in the 140 to 145 area, which is an important decision zone for the next move. If the market turns down from here and breaks below 130, then it would suggest that bears are back in control, opening the door for a move toward 104, which is a key support from July 2025.
On the other hand, a strong push above 157 would shift the outlook back in favor of a bullish trend.
So overall, the situation remains neutral and unclear, and we need to see a break of key levels before we can confidently call the next higher degree move.
Highlights
- Key decision zone at 140–145.
- Break below 130 opens downside toward 104.
- Break above 157 shifts bias bullish.
- Structure still unclear, waiting for confirmation.
Get Full Access To Our Premium Elliott Wave Analysis For 14 Days. Click here.