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US Stock In Play: $CD (Chinadata Group Holdings Limited)

Long
NASDAQ:CD   Chindata Group Holdings Limited
$CD closed with a major breakout this morning, leading the way as the best performing mid cap stock on the Eve of the New Year, closing at $23.96 with an intraday gain of +18.03%.

$CD traded back above its 20DMA on 4th November, after a short term decline of -17.51% upon its 30th September 2020 IPO high. Price action continues to hug the 20DMA over the course of following 38 market session, with consolidation observed below $20 round number resistance level since 4th December. The cumulative gain since 4th November totals at +72.50% in a brief 6 weeks period.



At the current junction, its price volatility is at its all time high of $1.50/day with $CD likely to trade outside a 6.5% daily range in the upcoming week.

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