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JD.COM Potential Bullish Continuation

Long
HKEX:9618   JD.COM INC
On the H4, with price moving within the ascending trend channel and MACD showing a bullish momentum. we have a bullish bias that price will rise from the entry at 248.2 to the take profit at 265.8 at the swing high in line with the 78.6% fibonacci retracement . Alternatively, price may drop from the entry to the stop loss at 234.0 at the multiple swing low in line with the 50% fibonacci retracement .

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