JD.com Trading China's 618 eCommerce shopping day15 June JD.com had risen along side all major technology stocks including the NDXT. The Dow Jones however had dropped and this lead me to believe that people were exiting other categories and entering into technology as a safe haven. This could also be because of the trade wars chatter between US & CN that has lead to people leaving categories that had a reliance on commodities.
I also found out that the 618 Festival that ends on the 18 June. This festival in 2017 lead to JD to achieving a record US17.6Billion in sales. A report of the 2018 sales results i'm sure would be released after the 18 June and this will drive JD's stock price up.
16 June saw the enter Technology index dropping and JD stock saw a huge drop within the first trading hour. I quickly entered as it was a better price that what I was looking at and I believe the drop was a market reaction and given that both the 15 June and 16 June were aligned with the market. I made the assumption that the potential 2018 618 result had no been factored in the existing price.
Let's see how next week goes! super excited
