PDD Holdings ( NASDAQ:PDD ) emerges as a formidable player, surpassing revenue expectations in its fourth-quarter earnings report. The driving force behind this success? Temu, its global platform, which has seen remarkable growth propelled by strategic end-of-year promotions and a surge in demand during China's Singles Day festivities.
Robust Growth and Financial...
Reasons for bullish bias:
- Price gave LH breakout
- Positive Earnings
- 0.5 Fib retracement plus support
Here are the recommended trading levels:
Entry Level(CMP): 130.62
Stop Loss Level: 105.33
Take Profit Level 1: 155.91
Take Profit Level 2: Open
Price target for PDD Pinduoduo is $64.
All the Chinese stocks are primed for a strong recovery after China`s top administrative authority said it would work to stabilize the stock market and boost economic growth!
Traders are expecting the Chinese government would support the stock market like the FED did in the US.
PDD will confirm the " Ascending Triangle " pattern at $101. I will Long (Buy) when the price breack out to $101.
PDD buy : $101
PDD target : $130 +-2
Stop loss auto : 8%
Wish you a good deal!
