9PDA trade ideas
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
PDD AB=CD pattern since IPOPDD keeps making new all time high recently and 2 weeks later there'll be their earning report.
Here we got this huge AB=CD pattern finished @ 60.00, which may make me turn a little bit bearish mindset.
At least, no longer would like to long in this spot before the ER,
a pullback to 50.00 spot may also be a good long though.
Let's see how it goes yo!
PDD pulling back to support + 20-day moving averageLooks like a good risk/reward setup in PDD. Fairly new name that has acted well during the recent volatility.
Pinduoduo $PDDPinduoduo rallied great and now is pulling back. Just below the 20SMA and rsi trendline. may back test but needs some time to rest.
Expecting some sharp retrace soonThis is my setup for shorting PDD, great stock as competitor of Alibaba. It's been 7 weeks straight bulls, I'd take some opportunity on doing a retrace.
Sell order @ 52.2
PDD LONG entry on breakout of downward trendlineAs PDD broke its major downward trendline , a long position with a good reward to risk ratio can be entered with a tight stop.
Factors leading to the decision:
- The recent downtrend has been broken with decent volume
- The 20ma was broken and held, pulling in moving-average traders off the side-lines
- A recent low offers a perfect spot to put a logical technical stop
As always, respect a tight-stop. If it rips up, let it run and trail stops behind.
Pinduoduo Inc gets Multiple Upgrades $pdd
Busy morning for PPD analysts with multiple upgrades coming into earnings.
Goodman Sachs = Buy rating
UBS = Buy rating
Credit Suisse = Outperform
Very bullish as earnings approach, but like every other stock, it will be very difficult to trade in the current market.
Will be on the watch-list for the days to come if market can stabilize
