 Welcome traders to another tick mill earning season preview with me Patrick Munnally before we jump into today's report as always want to adhere to that risk disclaimer. Most pertinent to today's presentation is the fact that the views and opinions expressed by me are solely mine. They're not indicative or representative of those held by tick mill UK or tick mill Europe limited. Okay, let's jump into today's report we are looking at Alibaba Alibaba are set to announce earnings before the open of New York trade today. And we are looking for an earnings per share estimate of 2.405 on an estimated revenue of 35.718 billion. The strong and restrictive COVID-19 measures that have hurt fiscal Q3 results to some extent as per data provided by the National Bureau of Statistics of China total resales retail sales declined 1.8% year over year in December. This marked the third straight month of fall in sales similarly for the full year 2022 the figure fell by modest 0.2%. Thus Alibaba's top line growth is expected to be muted. Nevertheless, strong domestic demand for its cloud business is expected to provide some support to Alibaba's Q3 performance. Further, the company's focus on diversifying its non internet businesses seems to be paying off the unit witness solid growth in the last quarter with the trend expected to have continued into this quarter as well. Furthermore, the website's analysis suggests that things are improving for Alibaba, which has struggled due to a slowdown in consumption and heightened competition. Traffic screeners show that the number of visits to Alibaba's websites Aliexpress Alibaba.com and Tobayo.com increased by 14.6% year over year for the December ending quarter. Let's take a look at some of the statistical trading patterns we can expect around the Alibaba earnings release. Baba shares have moved lower in the immediate aftermath of earnings 9 out of 12 previous reports on average the stock moved down 0.9% in the first day of trading after earnings. Based on the previous 12 earnings releases, Baba is more likely to trade higher one day after earnings for an average gain of 0.1%. On average, the stock has moved lower 0.3% one week after earnings. From an analyst perspective, the analyst community covering the stock, 60 analysts on a whole are rating it as a strong buy for the 12 month ahead of us. In terms of the price targets on the upside, we have a 218 level on the downside, 74-28. That gives us an average target for the 12 month period of 145-29. In terms of the flow and sentiment for the stock going into earnings, the options traders are pricing in an 8.4% move on earnings. The stock however has averaged a 7.8% move in recent quarters. On average, the options market has overestimated the stock move on average by about 69% over the last 12 quarters. There has been notable buying 943 contracts of the $120 call, which expires on Friday. However, options order flow sentiment in general has been bearish. Investor sentiment going into the company's earnings release has 60% expecting earnings beat. Let's pull up the Alibaba chart and see if we can identify any near-term trading opportunities. So looking at the chart here, since the lows that we posted back in October 2022, we have a potential three-wave corrective move that completed into the test of that 121 figure and we have seen a pullback from there. What I would anticipate now is as that level caps the immediate upside, I'm looking for a corrective move back into test trend channel support at the 10380 level. From there, I'd be watching for bullish reversal patterns to engage on the long side, looking for a move back through the 122 level, ultimately looking for 133 as the next upside objective, and then on to the 161 extension, which would give us that 144, taking us up to that upper target for the 12 month forecast. However, any loss of the pivot here at the 94, 97 level will be a bearish development, opening a move back down to test the high volume node at 8750s and that pivot swing low there at the 8490s. But for now, the focus can be on any pullback to the trend line support at the 103104 to engage on the long side, looking for that move back through 122. Equally, if earnings come in better than expected, I would also look to engage on the long side on a breakthrough that 122, also looking for that next upside objective 133 and then on to our 145. As always, traders, plan the trade, trade the plan, and most importantly, manage your risk. Until next time, thanks very much.