VIPS – Vipshop Holding, LTD

Last updated July 9, 2019

Looks like five waves up completed in May and a wave-II (possible wave-B) is now underway. Why possible a wave-B? Because you never know before hand if an advance or decline will become five waves or three waves, and even a three-wave advance is often in the 5-3-5 form. That said, wave-II/B should ideally bottom around $6.75-$6.00 before wave-III/C takes hold targeting ideally as high as $14.20s. The 200d SMA has bottomed out showing there’s a long-term trend change going on. Not shown on this chart, but there’s a big gap at $14.45, which thus coincides well with the aformentioned ideal price target.