With printing lower highs on weekly chart - the trend is still bearish
, and in this case Southern Gaps have good potential to be closed. With recent false breakout to the North on ultra-high volume
looks like bull
trap and need to slaughter weak buyers first. Also, Chinese stocks are overvalued compared to other markets and this will be a burden for Alibaba too.
Finally, I don't like that statement: "JACK MA: It's hard for the US to understand Alibaba"