Let's check out both securities as further weakness in Chinese shares will not improve the current stock market environment.
In the daily bar chart of BABA, below, we see what could be a descending or bearish triangle pattern since March. A descending triangle is normally found in a downtrend and is a continuation pattern (the prior trend is likely to continue, i.e. go lower). The pattern has lower highs and roughly equal lows. The pattern typically breaks out to the downside about two-thirds to three-quarters of the way through the formation.
Trading volume typically shrinks in a triangle as the trading range gets shorter and the opportunity to make money becomes harder. The On-Balance-Volume (OBV) line of BABA has declined, telling us that sellers of the shares have been more aggressive. The Moving Average Convergence Divergence (MACD) oscillator is bearish.