Alibaba Wave Analysis – 10 January, 2023

 • Alibaba rising inside impulse wave C

• Likely to reach resistance level 125.00

Alibaba continues to rise inside the active impulse wave C, which previously broke the key resistance level 105.00 (former monthly high from August).

The breakout of the resistance level 105.00 coincided with the breakout of the daily up channel from October – which accelerated the active impulse wave C.

Alibaba can be expected to rise further toward the next resistance level 125.00 (earlier monthly high from Marc and July and the forecast price for the completion of the active impulse wave C).