In other news today, JD , who was the last remaining bidder for Debenhams the 242-year-old retailer, has pulled out of a potential deal after it went into administration in April this year.
JD stock has risen by almost 200% since its 19th of March low of 312p, it is now trading at 809p. There is a strong at 825p. This zone, over the past 3 months have been tested over 18 times and the stock has failed to close above 813p. The stock spiked to 850p this morning on the positive news, but the bears have pushed the price back below the 825p threshold for now. Pre-covid, the stock closed at an all time high of 878p.
JD has been in a since April. Its growth has been helped by a monster Q2 2020 beat.
Right now, JD is at a critical level. Its price been consolidating for the best part of 3 months. Whenever the price dips, bulls buy. Whenever the price reaches the 825p zone, the bears bite back. The price is also facing some pressure from a declining connecting the high of 17th Jan, to the close of 23rd November.
Should JD break this key 825p zone, maybe on strong or , the stock could see more upside.