Expecting some sharp retrace soonThis is my setup for shorting PDD, great stock as competitor of Alibaba. It's been 7 weeks straight bulls, I'd take some opportunity on doing a retrace.
Sell order @ 52.2
Trade ideas
PDD LONG entry on breakout of downward trendlineAs PDD broke its major downward trendline , a long position with a good reward to risk ratio can be entered with a tight stop.
Factors leading to the decision:
- The recent downtrend has been broken with decent volume
- The 20ma was broken and held, pulling in moving-average traders off the side-lines
- A recent low offers a perfect spot to put a logical technical stop
As always, respect a tight-stop. If it rips up, let it run and trail stops behind.
Pinduoduo Inc gets Multiple Upgrades $pdd
Busy morning for PPD analysts with multiple upgrades coming into earnings.
Goodman Sachs = Buy rating
UBS = Buy rating
Credit Suisse = Outperform
Very bullish as earnings approach, but like every other stock, it will be very difficult to trade in the current market.
Will be on the watch-list for the days to come if market can stabilize
PDD Short Now - Low Risk Entry Points to WatchChinese markets are currently taking a hit and PDD happens to be coming off a new all-time high and bearish divergence.
Bearish divergence on RSI lead to a new high and eventual price break down.
We are currently sitting at the .382 fibonacci retracement level.
Similar scenario in previous cycle (2018-2019) where bearish divergence occurred and eventually had price fall to the .786 fib level which lines up with our major support line.
.786 fib level for current rally lines up perfectly with the major support line as well. This is exciting. Not only with the major support line but it lines up with the .618 fib level of the previous rally mentioned above.
This price level, approximately $22-$23.50 is the mother of all buy zones in my opinion. Now we may not even go that low but if we do I will be pretty confident in longing there.
I will be looking to make more plays in the other targets above as well, but I’ll be buying bigger bags as we reach the lower and lower levels considering the indicators line up at the time.
I will update as we move forward, good luck trading. Cheers!
Long Opportunity!!Set up perfectly to head higher. I hope tests 33.38, pulls back and then heads higher. I would put the trigger price at above yesterday's high of 33.38. I really like this idea if price actions acts as described above. This one could be a great winner!
$PDD that is stretcy like a pair of mom jeans What a move on this thing Know very little about it but will start watching closely
PDD (1D) Bear Shark pattern & ML setBear Shark prints as price tests fib confluence @ $34 level. Price testing Upper Median Line. RSI is extremely overbought and PPO indicate declining momentum.
Is $PDD nearing a short pullback before the next rally? Are you taking profits on PDD? When is the next rally?
PDD - Pinduoduo second-quarter results bit estimatesShare prices currently up by 13.56%. The estimated support and resistance are highlighted on the chart
$PDD Pinduoduo running to all time highs.Pinduoduo (NASDAQ:PDD) soars 11.1% pre-market after Q2 beats with 159% Y/Y revenue growth and GMV growth of 171% to $103.3B for the twelve-month period.
Average MAUs were up 88% to 366M, and active buyers increased 41% to 483M. Annual spending per active buyer was up 92% to $213.80.
Pinduoduo, Inc. operates as a holding company, which engages in the development and management of an e-commerce platform. Its Pinduoduo mobile application offers a selection of merchandise for buyer acquisition and engagement. The company was founded by Hua Lin Cai and Zheng Huang on April 20, 2015 and is headquartered in Shanghai, China.
PDD long setupPDD going up with weekly strong trend line. possibly buy. wait for retracement. I also watching this one .
Trending up PDDLooks like stock is in uptrend. Withstood some tariff talk, risky but maybe an indicator buyers exist for stock. Fib retracement of nearly 50% on 1st wave. Has previously gotten rejected on 200-day MA and has the possibility to do so again. Still looking like upward trend. Chinese stock so trade tensions hold large risk.
Possible OutcomesWould love to see if PDD breaks the red resistance line or not. If this price stays above the red resistance for more than 3 hours, this would take off soon or later.
