 Welcome traders to another Tickmill earnings report preview with me, Patrick Lemoy. We'll jump into today's report as always want to adhere to the risk disclaimer. The material provided is for information purposes only and should not be considered as investment advice. Reviews, information and opinions expressed by me are solely mine and they're not indicative or representative of those held by Tickmill UK or Tickmill Europe Limited. Okay, let's jump into today's report looking at Alibaba who announced before the opening of New York trading today and this looking for earnings per share print of 115 on revenue of 30.15 billion. I would highlight there is a whisper number on the streets that suggests the earnings per share could come in as high as 123. Wall Street is curious about Alibaba spending plans as the company's growth has slowed. With March Reuters report suggesting that the Chinese e-commerce giant could lay off up to 15% of its workforce. While there hasn't been any formal announcement from the company today, if true, these measures would really relieve some of the margin pressures that have been observed over the past couple of years. There is some optimism that the operating environment for internet companies in China may be normalising, which could help Alibaba shares in the long run. However, the management's tone could remain cautious with respect to the near-term growth and margins. Though the state of the Chinese e-commerce is always a main focus around Alibaba's report, the company's international business could also be under pressure due to geopolitical events. Anticipate a meaningful slowdown in international business due to the declining demand in Europe, supply shortages and logistical challenges in the Russian rail network. This report follows one from its peer, JD.com, JD printed 2.2% gain earlier in May as JD.com's management team indicated that consumers were shifting their spending towards more essential items and obviously warning about supply chain disruptions. Let's take a look at some of the statistical trading patterns around the Alibaba release. Chairs have moved lower in the immediate aftermath of earnings, 10 out of the 12 previous reports. On average, the stock has moved down 2.5% in the first day after its release. Based on the previous 12 earnings releases, Alibaba stock is more likely to trade higher one-day after earnings for an average gain of 1.4%. On average, the stock has moved higher by 0.1% one week after earnings. From a volatility perspective, options traders are pricing in a 10.7% move on earnings. However, the stock has only averaged a 4.3% move in recent quarters. From a flow and sentiment perspective, there has been notable buying 12,170 contracts of the $110 core it's expiring this Friday. Options order flow in general though has been bearish. The sentiment going into the company's earnings release has only 47% expecting earnings beats. The share price has drifted down 19.5% post its last earnings announcement. Using the last 12 quarters days, the average drift between earnings announcements is 0.3%. Let's pull up the Barbar chart now and see where there might be some near-time trading opportunities, obviously in a pretty pronounced descending trend channel here. We are currently consolidating a triangle pattern at the current lows. What I personally would do would be waiting for this triangle to resolve either a break to the upside or move through $95 level to set up a test of trend channel resistance at $107. If we can get through there, we have a high-volume mode and monthly projected range resistance coming in at $116.78%. However, if the earnings don't produce the anticipated upside and we take out the current lows at $73.90 on a closing basis, then I think that's a bearish development. Certainly be thinking about a test down into the $66 level and if we can't recapture the trend line resistance here back through the 81 handle then we could drift lower, testing down as low as potentially $42 on the downside before trying to mount a recovery. As always traders, plan the trade, trade the plan and most importantly manage your risk. Until next time, thanks very much.