Alibaba Wave Analysis – 26 November, 2019

• Alibaba broke key resistance level 187.27
• Likely to rise to 195.00

Alibaba recently broke above the key resistance level 187.27 (which stopped the previous impulse wave (i) at the start of October).

The breakout of the resistance level 187.27 continues the active impulse wave 3, which belongs to the intermediate impulse sequence (C) from May.

Alibaba is expected to rise further toward the next resistance level 195.00 (top of the previous wave (A) and the target for the completion of wave 3).