$BABA - Weekly TF analysis

Ali Baba holdings looks to be at historic levels...it has completed a 5 wave move from 2015 to 2020 and has now retraced 61.8% of that move in a 5 wave impulsive move down.

This is a great place to add some Chinese e-commerce exposure for the long term with weekly RSI having been oversold in sept and now forming a higher high as price formed a lower low.

With a a low to trade against, the R:R here is fantastic, with downside risk at 108.70 and upside targets is 175 and 240.