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PDD Holdings Inc.
Short

80% correction for PDD Holdings Inc ??

1183
On the above 12 day chart price action has increased 450% since March 2022. A number of reasons now exist for a bearish outlook. They include:

1) Failed support for price action and RSI.

2) Regular bearish divergence, lots of it. Seven oscillators print negative divergence with price action. Look left.

3) The rising wedge breakout and backtest. On confirmation price action has a high probability or returning to where the wedge began as measured from the apexes, which is $30.

Is it possible price action continues upwards and onwards? Sure.
It is probable? No.

Ww
without_worries
BTC
bc1q2eckdzh0q8vsd7swcc8et6ze7s99khhxyl7zwy

Weblink: patreon.com/withoutworries

Allow 3-6 months on ideas. Not investment advice. DYOR
Also on:
Multiple Time Frame AnalysisSupport and ResistanceTrend Analysis

Disclaimer

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.
Multiple Time Frame AnalysisSupport and ResistanceTrend Analysis
without_worries
BTC
bc1q2eckdzh0q8vsd7swcc8et6ze7s99khhxyl7zwy

Weblink: patreon.com/withoutworries

Allow 3-6 months on ideas. Not investment advice. DYOR
Also on:

Disclaimer

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.