Another Chinese name looking promising here with nice chart + earnings growth.
JD has been captured gains since the beginning of the year. Already 10% till now. Continue see strength and to see if JD could break 29.23 to higher. #Walmart has already increase stake in JD to 12%.
When will this excellent stock ever stop. The Brexit pullback created a bull flag which is now completed, and so a projection can be extended to around 380p. When the pre-Brexit top is taken as a 100% fib, the 161.8% extension reaches the same figure, giving two technical indicators to the same target. Note that the recent ramp has also formed a small bull flag,...
Recent Prices are hitting Fibonacci's EXT and RET, waiting for the EMA cross signal on 2H chart to enter the trade to short JD. Target Short Position is at 24.5 (1st level) and 23.7 (2nd level). Stop Loss point is at 26.5.
$JD looks a little young to me for a breakout just yet. Thinking we see a move to the .618 & 200 MA, only to see a fall back to wedge support/demand.
JD's revenue growth is outstanding. China's economy is slowing but I think Chinese consumer is overall strong.
Currently waiting for a perfect chance to short as wave 4 can not touch the territory of wave 1. Which means a tight stop. Actually there is a little room for the bulls this Friday.
JD expected to open at 29.47 for a Retest Gap. To learn to trade this strategy for free go to www.RealLifeTrading.com