Alibaba plunged by 66% for the past year since October 2020, while the Chinese index, HK50, lost only 4.5% in the same period. As a result, Alibaba founder Jack Ma has lost the leading position in the list of the wealthiest Chinese people. In this article, we will discuss the reasons for such a negative year and try to predict the future price movement according to the technical analysis.Why did Alibaba drop so deep? The main reason for this failure is the pressure from the Chinese government. The confrontation between Jack Ma, the founder of the internet company, and the…