JD is definitely having some issues, but I guess all of the China stocks have been volatile. It is like this group can not find a solid bottom.
This appears to be trading in a shark pattern and the landing pad can be the .886 or the 1.113. This hit the 1.113 of 0X today. Peak 2 is higher than peak 1 and there are no rules for the 2nd leg retracement for the shark except it can not go below 0. It is labeled 0XABC. The cypher is very similar, but the landing pad is the .786 of XC. It is labeled XABCD. There are rules for the retracement of the 2nd leg, but this is not a cypher.
No Recommendation.
The short term moving averages (alligator) look awful, and price is under all 4 longer term moving averages (20,50,100,200) which is often considered bearish. Price is below the bottom Bollinger band set on an 80 SMA which shows extreme selling pressure. Price does eventually return to the bands.
Negative volume is high which can show big money's interest.
This appears to be trading in a shark pattern and the landing pad can be the .886 or the 1.113. This hit the 1.113 of 0X today. Peak 2 is higher than peak 1 and there are no rules for the 2nd leg retracement for the shark except it can not go below 0. It is labeled 0XABC. The cypher is very similar, but the landing pad is the .786 of XC. It is labeled XABCD. There are rules for the retracement of the 2nd leg, but this is not a cypher.
No Recommendation.
The short term moving averages (alligator) look awful, and price is under all 4 longer term moving averages (20,50,100,200) which is often considered bearish. Price is below the bottom Bollinger band set on an 80 SMA which shows extreme selling pressure. Price does eventually return to the bands.
Negative volume is high which can show big money's interest.