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Chart of the Day – May 13th, 2021: Alibaba Should Extend Lower

Alibaba (BABA) continues to show short-term and medium-term weakness again the wave X high.

We believe Alibaba will break-down in the shorter-term cycle.

We do not have a “BLUE-BOX” blue zone across the shorter-term structure as of yet. Price target per analysis sits us around $170 per share.