[Long] PDDI like this one for medium to longer term.
Second bounce this morning from 86.44 closest support and 34dma. I think it could be basing here, recharging for more upside.
PDD/N trade ideas
$PDD:NASDAQ - PINDUODUO INC - Up 300% over 12 monthsPinduado is a mobile app that allows users to discover interesting and value-for-money products recommended by others as well as through a personalised recommendation system. Up 300% over the last 12 months it could be worth a watch.
Pinduoduo, Inc. operates as a holding company, which engages in the development and management of an e-commerce platform. Its Pinduoduo mobile application offers a selection of merchandise for buyer acquisition and engagement. The company was founded by Hua Lin Cai and Zheng Huang on April 20, 2015 and is headquartered in Shanghai, China.
(Description source: Trading View)
PDD - Aiming for another set of long after a correctionI am aiming to long at the demand level highlighted.
Bull FlagHas broken through.
I thought this one was parabolic
May not be
Patterns morph..Technical analysis can help us see the chaanges
Targets 1: 103 to 109.5
Targets 2: 130 to 144
Expected earnings 8-19/double check that
Not a recommendation
PDD, Youzan, Tencent Positional Updates (+128%) 💎PDD closed at upside target for a profit of +35.05%; un-marginalized
China Youzan closed at upside target for a profit of +70.48%; un-marginalized
Tencent long position, floating +22.58% with stoploss covered and 1/4th profit taken (closed).
Pinduduo (PDD - NASDAQ) - choppy or trendy - what’s next ?Pinduduo (PDD - NASDAQ) is in impulse cycle upward. It is in 4th wave correction, which might be zigzag or complex correction. So wait for 4th to complete then enter in buy trade for 5th wave up. It is very strong in daily time frame.
$PDD in an Impulse Wave 3 after IPOIf in fact Wave is as marked, I have 161.8% and 261.8% Extension measured, Wave 4's 50% Retracement, and Wave 5's Extension of Wave 3.
Wave 3 has already violated the 161.8% Extension.
Disclaimer: I have been trading in the markets for about a year. After several months of charting various instruments, my eyes have gotten trained to recognize different candle formation patterns like Bear & Bull Flags, Head & Shoulders, and others. This was good. But, not enough for me to accurately forecast the next following moves and market structure after these patterns had been completed.
For me my next evolution as a Trader came with a more fine-tuned approach to Market Structure, The Elliott Wave Theory. There are two books that were recommended to me as I started this journey.
1. Elliott Wave Principle: Key to Market Behavior by Robert Prechter and A. J. Frost, www.elliottwave.com
2. Visual Guide to Elliott Wave Trading by Wayne Gorman and Jeffrey Kennedy, www.elliottwave.com
I am still learning. I accept the fact that my analysis may be wrong. But, these are my charts as I continue my journey. I am open to all feedback on my analysis as I continue to improve.
Appears to have gone Parabolic??This stock appears to have gone Parabolic but who knows. I was in it for a while but sold it this week. Who knows, PDD may reach the sky! I was worried about the fall back to earth. She may keep flying until after Corona Balona is over which will maybe be at election time at the rate we are going/Dunno. PDD joins SHOP, DKNG (who fell) Spot, and ZM with this pattern. Scares me but we all have our own gut feelings and tolerance levels.
There may be support at 81 to 82ish, then down at 59 to 60ish, Then down at maybe 45 to 49ish...after that the strong support is in the 30s
Trade safely and listen to your gut
Fixing my previous postGood time holding PDD. However, I have decided to close the majority and opened some puts. It’s way too overvalued and I don’t think $100 is possible(in the short term.) I think it’s about to dive back to 65$ and rise once again from that level.
Pinduoduo Long Entry: 13:29:43 (UTC) Wed Jun 10, 2020Pinduoduo Long Entry: 13:29:43 (UTC) Wed Jun 10, 2020
$100 TP in 1 MonthSounds crazy, isn't it? But everything is possible in this crazy market. My bet is PDD could reach $100 in a super short term. From 2 weeks to a month, we should see it hit there. Not a good company, but a good stock to buy.
PDD doughAnalysis done on 25/05/2020
Fundamental
→ 20 & 40 SMA sloping up
→ 20MA > 40MA
Awaiting buy trigger
→ CCI <-100
→ Low of daily bar touches 20MA or goes below 20MA
→ Close above 40MA
Pull trigger
→ Buy 1 bid above previous day high
→ Sell 5 bars later exclusive of initial bar
Stop Loss
→ 50% below price bought
# PDD short and target green area stop loss red line PDD
# PDD you go for short and stop trade is red line and target is green area .
Thanks
