Pull Back Fishing Earnings Tomorrow BMOFormer Parabolic Arc with earnings tomorrow before market opens.
Arcs fall between 50 to 79% as a rule with the average falling between 62 and 79%. It is possible to fall more than 79% and also possible to fall less than 50%.
PDD has fallen more than 62% and less than 79% so price is in the average fall zone. Price can remain volatile for some time.
Price was below the lower band set on 80 briefly before snapping back inside.
89% would fall at 49.60.
No recommendation.
Counting on Mr. Market to do the same thing twice, can leave you disappointed.
P1DD34 trade ideas
PINDUODUO Inc. (PDD) | Chinese E-commerce Inside a Buying Area!Hi,
Pinduoduo Inc., through its subsidiaries, operates an e-commerce platform in the People's Republic of China. It operates Pinduoduo, a mobile platform that offers a range of products, including apparel, shoes, bags, mother and childcare products, food and beverage, fresh produce, electronic appliances, furniture and household goods, cosmetics and other personal care items, sports and fitness items, and auto accessories. The company was formerly known as Walnut Street Group Holding Limited and changed its name to Pinduoduo Inc. in July 2018. Pinduoduo Inc. was incorporated in 2015 and is headquartered in Shanghai, the People's Republic of China.
Technically speaking, the price of PDD has landed inside the possible rejection area. Quite strong criteria matching each other around $81 to $106:
1. Fibo 62%
2. Minor trendline
3. 50% from the ATH
4. Role reversal
5. Round number
Do your own fundamental research and if it looks attractive then you have the technical confirmation from my side to buy it!
Regards,
Vaido
Falling WedgeWill be keeping an eye on PDD in the upcoming weeks as its forming a massive falling wedge (bullish) and also is nearing the oversold range on the RSI.
- Just some support and resistance levels to keep an eye on as well as some RSI based supply and demand zones
- Looking for a breakout from this wedge (Broader market conditions permitting)
PDD Gap-up above $113 supply shelf next week will then see $118 (Opinion Only)
Open gap above at $118 + a bullish reversal weekly candle. If EEM and PDD gap up next week where PDD is above $113 this will likely run to $118 to fill that gap above.
A lot of bullish unusual options activity in this name today.
ABC BullishABC Bullish is in hopes that C is C. C on this one does line up with the fib level but sometimes C fails. Possible stop under C or if more conservative, possibly a stop somewhere under long entry level and cross your fingers.
Former parabolic arc so volatility is to be expected.
The One Black Crow candlestick pattern is made up of two candlesticks and starts with a long bullish white candle. It is followed by a long black candle which opens and closes lower than the previous white candle’s open and close. Remember, both candles in this pattern should be long candlesticks. A red candle has the open at the top of the candle body and the close of the period at the bottom of the candle body. A green candle is vice versa. The high of the day is at the end of the top wick and the low of the day is at the bottom of the bottom shadow for both green and red candles.
A Marubozu candle can be either red or green, bullish or bearish with very little or no shadows on either end so it is shaven. It shows the bears were in charge the whole session.
The Belthold is a bullish candle and performs fairly well in the scheme of candles and candle patterns. They occur at or close to a bottom and should be a green candle with no lower shadow which closes near the high, meaning little or no upper shadow.
No recommendation
$PDD Pinduoduo Support Zone Must Hold
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PDD Bullish Along with Chinese Tech.$PDD: Falling wedge pattern, this might take a little bit of time to marinade. We are tactically overweight on Chinese Tech as inflation is on the rise. China's economy is slated to rebound quickly and this stock is at a 40% discount from its highs! We think this is a high conviction name for recovery and have seen unusual options activity with this name the past 1-2 weeks! Setup is invalidated if it breaks below 110.