Alibaba Wave Analysis – 17 February 2025

– Alibaba broke daily up channel

– Likely to rise to the resistance level 130.00

Alibaba Group recently broke the resistance trendline of the narrow up channel from January – which accelerated the active impulse wave 5. The breakout of this up channel was preceded by the breakout of the key resistance level 117.60 (former multi-month high from October).

The active impulse wave 5 belongs to the sharp intermediate impulse wave (C) – enclosed by the aforementioned up channel.

Alibaba Group can be expected to rise in the active impulse waves 5 and (C) to the next resistance level 130.00.