ALIBABA This correction isn't over.

Alibaba (BABA) has been trading within a Channel Up since the October 07 2024 High. Right now it is on the 3rd Bearish Leg of this pattern, confirmed below the 1D MA50 (blue trend-line).

Both previous Bearish Legs touched the 1W MA50 (red trend-line) and the 1W RSI Higher Lows trend-line.

We expect that to happen at $137.00 (at least), which still puts the stock above both the 0.786 Fibonacci retracement level of the Bullish Leg and the -31.83% drop of the first Bearish Leg.

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