The recent bloodbath in Chinese stocks has taken a toll on many shareholders.
Have we seen the bottom for a stock like baba ?
in my opinion, not yet.
Doing a quick time count analysis, the down leg took 19 days and the retracement up to 50% (perfect time and price set up) took 10 days (which is ~50% of the time down). 50% price retracement and 50% of time.
As you can see, the volume is also decreasing in the last 2 weeks.
My target is 127.50 for baba in the next month or so.
Have we seen the bottom for a stock like baba ?
in my opinion, not yet.
Doing a quick time count analysis, the down leg took 19 days and the retracement up to 50% (perfect time and price set up) took 10 days (which is ~50% of the time down). 50% price retracement and 50% of time.
As you can see, the volume is also decreasing in the last 2 weeks.
My target is 127.50 for baba in the next month or so.
註釋
Just adding another comment ... baba to reach bottom around Sep 21. this is projecting another 19 days forward. This seems to make sense as this is a Gann key date.
Sep 21 also coincides with monthly cycles for last 3 months ..
註釋
it just keeps dropping..... sep 15 - 155 now
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