The department store retailer needs to see more bullish price action before concluding that a rally can be sustained.
The Chinese seem to have badly miscalculated President Trump's resolve to achieve a trade deal that looks out for American interests.
With trenches being dug in the trade war, there's a good chance Asian equities will drop 5% to 10% according to one observer.
The bulls have their work cut out for them to get this market back on track, but at least the China trade talks did not turn into the disaster that many were anticipating.
China's stock markets dipped briefly into the red, then closed up almost 4% as trade taxes on $200 billion in goods rose to 25%. What's going on?
China has a lot more ammunition than Trump or his advisors are telling him.
Shares of ABC found buying interest in the $72-$70 area in late December and again in April.
The e-commerce company's guidance might be the main culprit for its share price erosion after reporting first-quarter earnings that came in above estimates.
Cut lagging stocks and have a good reserve of cash on hand as the market prepares for further trade tariffs.
Because the news they access is filtered, Chinese investors have yet to factor in just how dangerously the trade talks now dangle.