BABA - unable to hold the floor

With the market opening a little weak, Alibaba (BABA) was struggling from the open.. and quickly lost the critical $80 threshold (intra low $77.77), settling -1.3% @ $79.54. Near term outlook has now flipped to bearish, and the door is open to the 70/68 zone... with earnings due this Thursday morning.


BABA, 60min

BABA, daily

Summary

*I was considering BABA as a viable long-earnings trade, however, with the loss of the $80 threshold, outlook is now bearish into earnings.

As a secondary rule, I do not short individual stocks whilst the broader market is trending higher...so I can't short BABA... on what is a clear break of core support.

Too many trading rules?
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As for BABA itself, the loss of the $80 threshold is a huge deal, not least ahead of earnings. Is Mr Market starting to quietly allude to bad news coming?

As things are, it would seem the market will sell BABA lower on earnings.. rather than somehow magically turn things around.. mere days after today's key break.
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Bearish short/mid term.
Bullish long term.

BABA is one to watch.. across the summer.