$Alibaba(09988)$ already had an run up before earnings due to government intervention. if it doesn't perform well more people will decide to cut loses or those that bought it will try break even while waiting for lower lows. due to China economy, more people are spending less while saving more and since there's major slow down in the economy cloud might possibly see no growth thus adding the possibility of baba not doing well in this earning. Other sectors that baba is in might need to pick up the slack which I think those sectors are struggling too. thus to me, high chances that baba share price will dip after reporting so-so or bad numbers. I might be wrong but I don't think my analysis is on the delusional end that baba will go $250 EOY prediction for no good reasons only just because it did reached $300 per share previously.