Zalando's stock price retreated last week, so we consider the high of the magenta wave (iv) to have been reached. We therefore locate the price in the last stage of the gray wave II and expect a descent to the green Target Zone between β¬18.71 and β¬10.40 before this movement is completed. Long entries could be made here. However, there is also a 30% probable alternative, which would see a further rise should the price exceed the resistance at β¬26.40.