JD.com share price in free fall becoming Tesla’s closest competi
JD.com Inc. shares (symbol ‘JD’) are in free fall since the start of 2023 without any valid signs of reversing to the upside at least in the short term. The company’s earnings report for the fiscal quarter ending March 2023 is set to be released on Thursday 11th of May, before market open. The consensus EPS for the quarter is $0,46 compared to the same quarter last year of $0,28.
‘ Shares of several Chinese stocks fell in April mostly due to geopolitical tensions between US and China. Chinese tech companies are also facing pressure from Chinese regulators who laid out specific rules for generative AI including that content created from this technology should align with core Socialist values.’ said Antreas Themistokleous at Exness. ‘The financial image as of 31/12/2022 shows the total assets of the company at around $86 billion while the total liabilities are just short of $55 Billion showing that the company has a strong balance sheet to overcome any financial “turbulence” giving confidence to long term investors to add the Chinese e-commerce giant to their portfolios. ’
From the technical analysis perspective the share has been trading in a bearish channel for almost the whole of 2023 without any clear signs of correcting majorly any time in the near future. The lower band of the Bollinger bands has proven to be a strong support area with the price failing to break below it. The share price is trading well below all moving average lines of 20,50 & 100 indicating that the bearish momentum is still valid.
Coming to add to the bearish sentiment comes the Stochastic oscillator which is very close to the extreme overbought level possibly signaling a continuation to the downside is the most probable scenario in the days following up to the earnings report.
‘ Shares of several Chinese stocks fell in April mostly due to geopolitical tensions between US and China. Chinese tech companies are also facing pressure from Chinese regulators who laid out specific rules for generative AI including that content created from this technology should align with core Socialist values.’ said Antreas Themistokleous at Exness. ‘The financial image as of 31/12/2022 shows the total assets of the company at around $86 billion while the total liabilities are just short of $55 Billion showing that the company has a strong balance sheet to overcome any financial “turbulence” giving confidence to long term investors to add the Chinese e-commerce giant to their portfolios. ’
From the technical analysis perspective the share has been trading in a bearish channel for almost the whole of 2023 without any clear signs of correcting majorly any time in the near future. The lower band of the Bollinger bands has proven to be a strong support area with the price failing to break below it. The share price is trading well below all moving average lines of 20,50 & 100 indicating that the bearish momentum is still valid.
Coming to add to the bearish sentiment comes the Stochastic oscillator which is very close to the extreme overbought level possibly signaling a continuation to the downside is the most probable scenario in the days following up to the earnings report.