JD trade ideas
$JD - Descending wedge breakout - target $87Breaking out from descending wedge.
Target - $87
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How to read my charts?
- Matching color trend lines shows the pattern. Sometimes a chart can have multiple patterns. Each pattern will have matching color trend lines.
- The yellow horizontal lines shows support and resistance areas.
- Fib lines also shows support and resistance areas.
- The dotted white lines shows price projection for breakout or breakdown target.
Disclaimer: Do your own DD. Not an investment advice.
$JD with a Bearish outlook following its earnings #Stocks The PEAD projected a Bearish outlook for $JD after a Negative over reaction following its earnings release placing the stock in drift C
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JD | Clearly bearish short termHey all,
on a technical standpoint only, JD.com should be trading sideways or red for the next few weeks.
The 2020 uptrend was broken in early 2021, price is now beneath ALL MAs, and RSI has been stuck in a downwards channel for a while.
The correction may be losing steam as we see from falling volume, but with China relations headwinds on the horizon for a couple months to come, I can see this trading lower over the short term.
I am long the name, so will happily add to my positions in the red zones marked in the chart.
Would love to hear your thoughts!
Good luck to all!
(*This is not financial advice, for sake of discussion and illustrative purposes only*)
JD for the bullish divergence w.l.Clearly it's in a long correction. Bullish divergence is seen on 2 of the 5 indicators we look for, which is good enough to get it buy listed.
The post scan criteria factors working against us are that:
1) we are supposed to be above the 50 and 200 weekly MA's, however, we are messing around with the 50 MA at the moment, which gives indecision.
2) earnings is less than 2 weeks away. Earnings is May 10th. Earnings means possibly large volatility and strange price action.
3) above average volume on recent low. This is not present. If it was it would show us buyers like the new low prices, but not seeing that, we can not say that.
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If it wasn't for the earnings and lack of volume on recent lows I would be pretty favorable according to the criteria. It's not 5 stars, but it's probably at least 3 1/2. Worth keeping an eye on.
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I will start putting these out in the mornings if I can ever get myself figured out that early. It is kind of hard doing this knowing the futures markets are spinning, and I'm not watching them.
JD - continued selloff likely within next weekShort interest remains high, with no clear sentiment indication from CMF or MFI. Next support (on the way down) at 72.30; a continuation to this level seems more plausible than a move out of the current channel and back above the MA200.
Next buy level could be 72-73, pending confirmation if/when we get there.