Note: This is not an investment advice but my opinion alone. Please feel free to comment.
JD has been picking up steam since it reached its IPO level. As you can see from the RSI that buyers came in even though it was setting a new low which is a bullish signal. It also went above the resistance line and it if can stay above that, I see it getting to the 200 EMA. One way to get there quicker is if the charges against JD CEO gets dropped.
On the reverse side if the stock price drops below the resistance line then we could lower.
JD has been picking up steam since it reached its IPO level. As you can see from the RSI that buyers came in even though it was setting a new low which is a bullish signal. It also went above the resistance line and it if can stay above that, I see it getting to the 200 EMA. One way to get there quicker is if the charges against JD CEO gets dropped.
On the reverse side if the stock price drops below the resistance line then we could lower.
Comment:
Now that the CEO will not be charged, I will like to see this close above the resistance line for the week.
