PDD/N trade ideas
PDD price divergence with its RSI(NASDAQ: PDD), had announced recently that a global institutional investor will purchase through a private placement close to US$500 million of newly issued Class A ordinary shares of the Company, representing approximately 0.3% of the Company's post-issuance total outstanding share. But according to the technical analysis a pull back has been expected.
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Potential Trade setup developing.
Very much dependent on market strength and
a change of fortunes for Chinese heavyweight BABA
as its inclusion in so many ETFS is holding back others.
Alert set for move above $150 for potential entry.
targets as per resistance levels.
Caution as on the daily chart there is some bearish divergences.
$PDD - watch out for bag holders There will be a lot of resistance for folks holding $147 and $150 area.
There is a play up to both these levels, but be careful for the resistance.
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PDD Short - Ending Diagonal in 5th wave - Elliot waveEnding diagonal in 1st of 5 complete correction waves in the 5th motive wave of the Elliot wave principle.
Short stock once price max met at 130.85 and TP at 96.50 (50% Fibonacci)
This is just my opinion, please don't invest if you cannot afford to lose.
Why i will sell pdd.The high has formed, the bears are about to push it down. remember to sell highs.
PDD in healthy consolidation, two scenarios going forwardPDD has been consolidating since the earning jump. The consolidation is very healthy in that: 1. price is tightening, a ascending triangle and a bullish flag is emerging on the chart; 2. Volumes patterns give me high confidence, up on strong volume while down days are often in low volume.
Going forward, there are two key levels to watch:
1. $145, which has been a resistance twice. Also note that the controlling volume after earning is right at 145.
2. $116, this is the top before the gap. There is a chance that the gap may be filled if the market corrects. In addition, PDD's price strength is weakening as can be seen in the MACD and MFI at the bottom of the chart.
Keeping the two levels in mind, I see two scenarios:
1. We keep consolidating for more weeks, and then breakout the 145 resistance. If this happens, I'd not be surprised by a double digit run.
2. The price weakness exacerbates and PDD does a cup, attempting to fill the gap, and then rebound and resume the bull trend.
I think the two scenarios are equally likely, although I'd prefer to see the second, because it gives us a fimer base to work with. Also the gap gives us a hint on the potential bottom of the cup so we may get a better entry point.
Best luck investing!
$PDD Consolidation + Neutral Outlook$PDD has been strong lately. Watching this consolidation triangle for a break in either direction. Upward leads to ATH, Downward leads to the GP.
$PDD with a bullish outlook after earning releaseThe PEAD projected a bullish outlook for $PDD after a positive under reaction following its earning release, with the stock placed in Drift A
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PDD over 144.79Nice consolidation facing big resistance at this level. Some unusual and bullish option order flow supporting this as well.
PDD5 waves up complete. I think the long term price for PDD will be around $100, and short term TP would be the MA 50 line.
PDD Short if crosses 126.94Gap fill if goes below support levels.
Option market highly negative on the stock.
