PDD longPDD enters strong bullish area on monthly TF.
It is reasonable to follow after best entrance point with small stop and good R:R.
Will be updated later.
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9.94USD
8.47 BUSD
34.95 BUSD
1.35 B
About PDD Holdings Inc.
PDD Holdings, Inc. is a multinational commerce group that owns and operates a portfolio of businesses. The company aims to bring more businesses and people into the digital economy so that local communities and small businesses can benefit from increased productivity and new opportunities. It has built a network of sourcing, logistics, and fulfillment capabilities, that support its underlying businesses. PDD Holdings was founded by Hua Lin Cai and Zheng Huang in 2015 and is headquartered in Dublin, Ireland.
PDD - hyper growth gem Rising wedge was always going to break down. This company has high exposure to the Chinese consumer, which continues to struggle with no end in sight. That is reflected in the stock price of companies like Alibaba which trade at very low valuations. But unlike Alibaba, PDD is a hyper growth stock an
PDD to benefit from China StimulusPDD growing 60%+ this year, 100% LTM, on revenue. $50B+ revenue expected for 2024. Trades at 2-4x NTM revenue which is at least 10 lower than US Tech --- (NVDA 14x for example)
$PDD to 250Cup and handle formation , target 250
PDD is currently oversold so stay cautious
Short term target = 190-195
Expected pullback area in the chart
80% correction for PDD Holdings Inc ??On the above 12 day chart price action has increased 450% since March 2022. A number of reasons now exist for a bearish outlook. They include:
1) Failed support for price action and RSI.
2) Regular bearish divergence, lots of it. Seven oscillators print negative divergence with price action. Look
Pinduoduo making monthly BULLISH ENGULFING SeptemberNASDAQ:PDD
PDD makes at monthly chart since IPO now in Sept the third Bullish Engulfing!
BUT look how big it is this time - HUGE UPSIDE GAIN IS NOW IN THE MAIKING AND IT JUST STARTED ....... MUCH MORE TO COME NOW!
Just look what happened at prior BULLISH ENGULVINGS ...... THIS IS HUGE - HUGE -
PDD LONGAs we see clearly wyckoff accumulation coming to it's end, from here we should see a breakout and uptrending movement !
PDD Noteworthy Swing Support Levels, and a word of cautionLooking at NASDAQ:PDD after its earnings fallout, here are some interesting support levels to watch.
The 0.618 Fibonacci retrace from the March 2022 pivot low to the May pivot high is at $77.25.
Additionally, while Head and Shoulder patterns are not the most reliable, there is a level around $75
PDD, first stop 75$Trend break for PDD stock. No longer higher highs an higher lows, as the wedge broke to the downside.
Next accumulation spot around 75$, maybe even 70$.
8/28/24 - $pdd - mkt full r*tard, buy <$908/28/24 :: VROCKSTAR :: NASDAQ:PDD
mkt full r*tard, buy <$90
- the print **CLEARLY** didn't go as expected. cut losses pre mkt that day and it hurt. dabbled a bit here/ there, but kept feeling the sell OTD (over the day) orders from US institutions.
- with the NASDAQ:SMCI "accounting" issue (p
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