Has JD.com Bottomed?JD.com has languished for a couple of months, but some traders may think the Chinese e-commerce stock has bottomed.
The first pattern on today’s chart is the April low of $31.80. JD closed below the level once in May but quickly rebounded. That could be interpreted as a false breakdown.
Second, MA
11.91 BRL
30.98 B BRL
868.04 B BRL
About JD.com, Inc.
Sector
Industry
CEO
Ran Xu
Website
Headquarters
Beijing
Founded
1998
ISIN
BRJDCOBDR001
FIGI
BBG00Q8J34J0
JD.com, Inc. is a technology-driven E-commerce company, which engages in the sale of electronics products and general merchandise products, including audio, video products, and books. It operates in the following segments: JD Retail, JD Logistics, and New Businesses. The JD Retail segment offers online retail, online marketplace, and marketing services. The JD Logistics segment includes internal and external logistics businesses. The New Businesses segment is composed of JD Property, Jingxi, overseas businesses and technology initiatives. The company was founded on June 18, 1998, by Qiang Dong Liu and is headquartered in Beijing, China.
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JD last correction is overSince fiscal stimulus announced by China, JD started to print an expanding diagonal which I labeled in black as 1-2-3-4-5. Currently, wave 4 is over (or will be over within a few days) and wave 5, the longest in such a type of diagonal, is set to unfold.
Which supportive evidence I found:
wave 4
JD.com - To long or not to long ?If you want to gain market share in a newly encroached area that you are entering, sometimes, having hoards of cash in your balance sheet helps. That is the case for JD.com who has recently entered into the food delivery business in China, competing with the likes of market leader, Meituan and Aliba
Bullish BO of a descending channel and triangleJD has been pulling back for quite a while, and has just recently broken from the descending channel, after touching a higher TF dynamic support level, reacting from it and today with volume, obviously, every trade has their risks, plus tomorrow is it's earnings release so keeping that in mind... Ne
Bullish Divergence for 9618 in dailyGiven the spot of bullish divergence in RSI,
and that 1-2-3-4-5 is potentially completed,
I would like to change my prediction from a bearish market to a bullish market.
The retracement to $115 will be completed in future months.
I estimate 9618 will be raising as B in this month
See all ideas
Summarizing what the indicators are suggesting.
Oscillators
Neutral
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Oscillators
Neutral
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Strong sellStrong buy
Strong sellSellNeutralBuyStrong buy
Summary
Neutral
SellBuy
Strong sellStrong buy
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Summary
Neutral
SellBuy
Strong sellStrong buy
Strong sellSellNeutralBuyStrong buy
Summary
Neutral
SellBuy
Strong sellStrong buy
Strong sellSellNeutralBuyStrong buy
Moving Averages
Neutral
SellBuy
Strong sellStrong buy
Strong sellSellNeutralBuyStrong buy
Moving Averages
Neutral
SellBuy
Strong sellStrong buy
Strong sellSellNeutralBuyStrong buy
Displays a symbol's price movements over previous years to identify recurring trends.
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