JD/N trade ideas
$JD - Target $88JD playing out inverse head and shoulder and bullish descending wedge.
If JD can break above neckline $80, it can hit $88.
Neckline - $80
Target - $88
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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.com is a BUY nowThis is a pattern I have talked about in the past and it is a combination of a distribution pattern (in this case a Wolfe wave) and a reversal pattern within the accumulation phase (in this case a reversed head and shoulder). I bought this in my investments accounts and is a long term hold for me.
Chinese Tech Up Strongly - Take Profits On JD.com For 5.7%Yesterday I flagged JD.com and the prior day BABA and BIDU.
Chinese tech stocks having 2 good days.
JD up 5.7% from the flag. If you want to take some profits, you can do it here (~$78.11).
If you feel there's more upside, take 50% here and reduce more at higher levels.
Buyers Showing Interest In Chinese Tech - Also See JD.ComBoth our Baidu and Alibaba ideas has starting to gain some traction, while outside of this group, SNAP has also starting to move on the back of it's deal with Universal (now +$6 or 10% higher)
See JD.com - it's breaching it's downward trend and if it gets above 74.45 intraday, it could also get back 'in play' for a move up to ~$77.20, using a stop-loss of 72.30.