Head and Shoulders Target 1 has been met.
Price is below the neckline.
No recommendation/at a support level today that may or may not hold.
PDD trade ideas
Falling wedge on $PDD There appears to be a falling wedge pattern on NASDAQ:PDD around the HKEX:65 area also lines up with 0.618 Fib. RSI is near oversold and Stochastic is curling up. This area has acted well as both support and resistance previosly.
$PDD with a bullish outlook following its earnings #StocksThe PEAD projected a bullish outlook for $PDD after a negative under reaction following its earnings release placing the stock in drift D .
Accumulating PDD soonWe can see that there is a nice triple bottom support for PDD ! If the price continues to rally and breaks above the resistance at 61.02.
Let's see how it works out in the next few weeks .....
PDD have to decide about directionPDD is in an interesting position for both bulls and bears. It is currently within a symmetrical triangle, which is more bullish than bearish as it is at the high of the leg. However, the price is currently trading between the 20-day and 50-day moving averages, and at the same levels as the trendline from the symmetrical triangle. Breaking above or below these levels could result in a very strong and impulsive move.
For now, the volume is neutral. The RSI, which had previously shown strong bearish divergences, is now cooling down and is almost neutral. The MACD is currently ticking lower, and the lines are close to dropping below the zero line. If the MACD line drops below the zero line, it would be more bearish.
Overall: PDD is stuck between moving averages and within a symmetrical triangle. A breakout above the 20-day MA would be a very bullish sign and could trigger a long position. Conversely, a breakout below the symmetrical triangle and the 50-day MA would trigger a short position.
The target for both bulls and bears would be the blue dotted line.
REVIEW $PDDFA
V - Yes
I - Yes
G - Yes
TA
1 - Respect major upward trendline
2 - W formation / C&H formation
3 - Broke major resistance
so many bullish signs on PDD😜downtrend break - double bottom from local support zone - explosive break past pivot level..
should push to 129-146 from here, boost and follow for more. thanks <3
PDD Potential for Bullish Continuation| 18th January 2023Looking at the Daily chart , my overall bias for PDD is bullish due to the current price being above the Ichimoku cloud , indicating a bullish market. Looking for a pullback buy entry at 74.79, where the 38.2% Fibonacci line is. Stop loss will be at 38.80, where the recent swing low is. Take profit will be at 111.34, where the 50% Fibonacci line is.
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PDD Potential for Bullish Continuation| 18th January 2023Looking at the Daily chart, my overall bias for PDD is bullish due to the current price being above the Ichimoku cloud, indicating a bullish market. Looking for a pullback buy entry at 74.79, where the 38.2% Fibonacci line is. Stop loss will be at 38.80, where the recent swing low is. Take profit will be at 111.34, where the 50% Fibonacci line is.
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, as general market commentary, and do not constitute investment advice. The market commentary has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and it is therefore not subject to any prohibition on dealing ahead of dissemination. Although this commentary is not produced by an independent source, FXCM takes all sufficient steps to eliminate or prevent any conflicts of interest arising out of the production and dissemination of this communication. The employees of FXCM commit to acting in the clients' best interests and represent their views without misleading, deceiving, or otherwise impairing the clients' ability to make informed investment decisions. For more information about the FXCM's internal organizational and administrative arrangements for the prevention of conflicts, please refer to the Firms' Managing Conflicts Policy. Please ensure that you read and understand our Full Disclaimer and Liability provision concerning the foregoing Information, which can be accessed on the website.
PDD - Trade the trendBroke up the neckline on 28 November and a retest near it on 28 December (point C). Looks ready to break above B again soon. Unlike previous steep pullbacks before the breakup of the neckline, this one is shallow (at only 23.6% retracement), a sign that an uptrend momentum is underway.
Disclaimer: Just my 2 cents and not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance and don't forget that money management is important! Take care and Good Luck!
PDD is following Up-Trending ChannelAfter following long-term down-trending channel, PDD has now taken successful reversal.
It is now:
1. Following an up-trending channel
2. Has completed Golden cross (50 MA crossed above 200 MA)
3. Has support of positivity in Chinese market
4. Has support of improving financial performance
Have any questions? Please feel free to ask in the comments.
Refer my previous article to know more about PDD.
PDD - Read to Fly?
PDD is ready to fly. Here are some solid reasons:
REASON 1 - Accumulation Completed
Down since February 2021, this e-commerce platform of China has taken a reversal. Entered accumulation zone in March 2022, now enough buying volumes and positive earnings have pushed it out of the accumulation zone. Breakout has occurred at 73 USD key price level, and so now stock seems to have entered advance zone while the key long-term resistance (All Time High) is at 214 USD - a gain of more than 100% possible.
REASON 2 - Higher Revenues & Net Income
The real fuel is provided by better earnings and further higher expectations in the future. Revenue has grown 23% in TTM while income has swelled 260% in TTM - both are impressive signals of continued growth. Further pedestal is provided by positive expectations of end of lock-down in China which can open-up locked industrial growth.
Risk
Still caution is needed as markets aren't out of wood.
Short $PDD$PDD had a magnificent run from $39 to $85 which is back into the upper part of the monthly channel. I took a short at $82.74. Looking for a test of $63 again. I think it's exhausted.
Multi Short Signal Triggered On PDDThis is a short swing trade technical chart setup that looks like a pull back to potentially $65.
Note: This is not financial advice. If you like this idea and want more, follow me.
$PDD with a Bullish outlook following its earnings #Stocks The PEAD projected a Bullish outlook for $PDD after a Positive Under reaction following its earnings release placing the stock in drift A with an expected accuracy of 60%.
V BottomEL is a break of the V on the other side similar to a Cup and Handle Breakout.
The V bottom is not rounded at the bottom like a cup is though.
Short interest is around 4.45%.
Gap under price.
No recommendation.
Don't be a hero (o:
Spinning tops. Possible pull back.
$PDD worth watching for swing puts or callsMy earlier bullish outlook on this stock has now become more neutral. The dashed yellow line connects closing prices while the solid yellow line connects lows.
Based on RSI and stochastic right now, price could move either way, but the 20sma is crossing down below 200 and RSI is under 50. For the time being I lean bearish and watching 30/60m timeframe for a trade entry. Watch price to see what it does between the two yellow lines.
PDD reverts to 70 fair price; Inv H&S targets 119.PDD after bottoming after a H&S at the top, createa another inverse H&S & HAS SINCE REACHED THE COMMON NECKLINE AROUND 70, which I think is the market”s FAIR PRICE.
Let us wait which direction this will lead to but I AM BIASED LONG. TP is 119 for H&S pattern measured move.
Not trading advice
#PDD inverted head & shouldersCan this #chinese listed stock climb?
#pdd displaying an inverted head & shoulders
Neckline 72.00
Overhead Objective 120
$PDD Excellent Volume Pattern$PDD not in a confirmed stage 2 uptrend.
But looks as good as it can get.
Volume pattern is excellent.
$PDD looks promising for more upsideFrom Dec. you can see a bottoming formation on the daily chart, and price is back above the yellow line now. 20sma is sloped upward while price has taken a breather and brought RSI down to retest 50. RSI closed below 50 on 21Sep. If today it is back at/over 50 after market close, then today's candle is a signal for another leg up. In order for this RSI 50-test to trigger calls, the stock has to trade over today's high on Friday, 23Sep.
There is an unfilled gap ~54.70, moving back down to the 200sma. I would exit swing calls if the stock does not move higher in the next day or two because this trade idea is based on a continuation move higher.
