BABA, PYPL update 03/27

BABA: Counts best as minor-c of intermediate-iv now underway. The advance off the early February high looks overlapping and 3-waves: b-wave most likely. A simple c=a (green arrow) relationship targets $160ish, which is the upper edge of the S/R zone, and close to the 38.3% retrace at $156ish. A strong reversal from these levels will signal intermediate-v is underway. One step at the time.

baba weekly


PYPL: looks to be completing wave-c of major-4, in you guessed, it a flat form correction. The ideal c=a extension targets $68, but strong horizontal support (based on the weekly candles’ wigs is between $71.50 and $68. Hence, wave c may not entirely reach it’s c=a target. A strong reversal from this level would be a nice signal for a long for major-5 to $90+. For this count to be correct we need to see price break below $75, a break above the -what is here labeled as- b-wave high of around $84.75 means major-4 already completed and major-5 is underway. Hence, watch both price levels closely for clues on what’s next. Of course, all TIs are currently pointing down, and want to see lower prices, not supporting a move higher at this moment.

pypl monthly