PDD/N trade ideas
PDD: You should be aware of this chart pattern!Hello traders and investors! Let’s talk about PDD today! It is the first time I analyze this stock, and I hope my insights can be helpful. In this analysis, I'll present you two strategies to follow.
First, in the 1h chart, we have a Descending Triangle chart pattern, and the trend is clearly bearish, as the 21 ema is pointing down, and the price can’t trade above it.
This makes the situation more favorable to the bears, at least in the short-term , and as long as we don’t see a clear breakout upwards from this Triangle, the bear trend will persist. This Triangle is the best chance PDD has to reverse this bearish sentiment.
Now, there’s two strategies we can use. First, if we see an upwards breakout, second, if we see a downwards breakout. Either way, this Triangle is the key, and the targets are better seen in the daily chart:
If PDD breaks this Triangle downwards, then it’ll just seek the next support level, and the most meaningful support is the red line at $ 121.28. Then we’ll see how to proceed. Maybe PDD will lose this line, or it could do a nice candlestick pattern and trigger a possible Double Bottom pattern – we can’t know for now.
On the other hand, if PDD does an upward breakout from the Triangle in the 1h chart, the next resistance is the target, which is at the green line ($ 152.06). This is also a pivot point , and the trigger of an Inverted H&S chart pattern , as evidenced by the green area. If triggered, this pattern will officially reverse the trend in the mid-term , and PDD would have a first target at $ 188 , and it could go even higher, above $ 200.
Since PDD is dropping with low volume , this makes me wonder if this bearish movement will have the strength to persist.
Either way, we must keep watching PDD closely, and if you liked this analysis, remember to follow me to keep updated with my daily studies, and please, support this idea with your like!
Thank you very much!
PINDUODUO INC / OVER 36% PROFITPINDUODUO INC / OVER 36% PROFIT
PAST IDEAS:
06/04/2021 - DOGECOIN / TETHERUS -------------------------- TARGET 35% ACHIEVED
06/04/2021 - PELOTON INTERACTIVE INC-----------------------RUNNING
06/04/2021 - REEF / TETHERUS----------------------------------RUNNING
06/04/2021 - NOV INC----------------------------------------------RUNNING
06/04/2021 - APA CORPORATION----------------------------------RUNNING
06/04/2021 - NIO INC-----------------------------------------------RUNNING
06/04/2021 - GRT / TETHERUS------------------------------------RUNNING
07/04/2021 - SOS LIMITED------------------------------------------RUNNING
07/04/2021 - STMX / TETHERUS-----------------------------------RUNNING
13/04/2021 - SUNDIAL GROWERS INC-----------------------------RUNNING
H&S?It broke the trendline of that descending wedge with some volume but then formed a head and shoulder pattern on the 1 hour, if it breaks down expect it to go right back into that descending pattern and Ill end up playing PUTS.
PDD short position ideaPDD formed a head and shoulder patter in the past few months. it broke the neck line ($133.88) on 24/3/2021.
Today just retested the same neck line but failed to break out. Right now would be a good point for short position.
Target price is at $60.8 but pay attention to the red line. It could be act as support.
PDD - Early but flag break on dailyHas been one of the strongest of Chinese names out there, but showing clear bearish pattern.
$PPD with a Bullish outlook following its earnings #Stocks The PEAD projected a Bullish outlook for $PPD after a Negative under reaction following its earnings release placing the stock in drift D
If you would like to see the Drift for another stock please message us. Also click on the Like Button if this was useful and follow us or join us.
PDD 🌦Pattern recognized: Running flat Elliot Correction Wave.
Thesis: Bullish sentiment
Conclusion: Lower degree correction on the 5 min, look for upside
***This does not constitute financial advice.***
BUY PDD PT1 179 SL 147Rationale
Earnings event coming up, potential upwards pressure
Bullish flag on the 10 minute
New active sequence
Bullish Option Flow
Targets at volume shelves
General market has stablized
pdd 🎈i'll be honest, i have no idea what this company is, but its inside the qqq index :^)
same idea, waiting for my yellow box for a wave 3 momentum play.
$PDD PINDUODUO INCJust broke support and crossed the wave trend. GOING LONG!
HAPPY TRADING FOLKS! PLEASE FOLLOW ME FOR CHARTS!
$PDD approaching to the top of consolidation zoneApproaching to the top of the consolidation zone here..
the smart money flow suggests that the break out is coming.. can't say when.. but it is likely going to break out hard
PDD breakout PDD is holding the trendline very well and has formed a very nice pennant the last couple weeks. It looks like PDD is going to breakout in the next couple days. PDD held the fib on Friday's close and is likely to breakout Monday or Tuesday.
$PDDEntry price : 140.04
Fundamentals :
- Sector: Retail - Internet
- EPS % Chg (Last Qtr): 125%
- EPS % Chg (Previous Qtr): 80%
- 3 Year EPS Growth Rate: 0%
- EPS Est % Chg (Current Yr): 0%
- Sales % Chg (Last Qtr): 99%
- Sales % Chg (Previous Qtr): 63%
- 3-Year Sales Growth Rate: 242%
- Annual Pre -Tax Margin: -14.7%
