PDD is showing bearish divergence in the RSI after a consistent upward movement in a considerably bullish trend. The RSI is weakening showing less momentum. Additionally the oscillators such as stochastic and MACD are flashing sell signals. I suspect
PDD will have a slight correction down over the coming weeks to fill the gap on the Nov 27th, and touch the 50MA. I would be looking to buy as the price nears $125. In the future I would be careful trading this stock around the earnings date March 13th and also when the IPO lockup period ends in May.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.