Macro idea on BABA
$Alibaba(BABA)$ "Macro price target analysis here with cycles, patterns, and fibs. The box is the profit taking zone in my opinion, I do not expect the next two year cycle to make new highs , but I do expect the one after to. This is because this cycle made a lower low. Usually the cycle after has to make a higher high or at least range from end to end in a gradual progression.
Price target is between 170 and 190 by approx. late 2023.
The cycle ends in 2024 which matches the US chart, where I do expect to see a global recession - meaning most of 2023 might actually be decent after we find a near term bottom in the US market, with the final decline not happening until a prolonged bull trap, or if it doesn't go lower than a retest of lows or a general flat market from cycle end to end."
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