$PDD - watch out for bag holders There will be a lot of resistance for folks holding $147 and $150 area.
There is a play up to both these levels, but be careful for the resistance.
Trade ideas
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PDD Short - Ending Diagonal in 5th wave - Elliot waveEnding diagonal in 1st of 5 complete correction waves in the 5th motive wave of the Elliot wave principle.
Short stock once price max met at 130.85 and TP at 96.50 (50% Fibonacci)
This is just my opinion, please don't invest if you cannot afford to lose.
Why i will sell pdd.The high has formed, the bears are about to push it down. remember to sell highs.
PDD in healthy consolidation, two scenarios going forwardPDD has been consolidating since the earning jump. The consolidation is very healthy in that: 1. price is tightening, a ascending triangle and a bullish flag is emerging on the chart; 2. Volumes patterns give me high confidence, up on strong volume while down days are often in low volume.
Going forward, there are two key levels to watch:
1. $145, which has been a resistance twice. Also note that the controlling volume after earning is right at 145.
2. $116, this is the top before the gap. There is a chance that the gap may be filled if the market corrects. In addition, PDD's price strength is weakening as can be seen in the MACD and MFI at the bottom of the chart.
Keeping the two levels in mind, I see two scenarios:
1. We keep consolidating for more weeks, and then breakout the 145 resistance. If this happens, I'd not be surprised by a double digit run.
2. The price weakness exacerbates and PDD does a cup, attempting to fill the gap, and then rebound and resume the bull trend.
I think the two scenarios are equally likely, although I'd prefer to see the second, because it gives us a fimer base to work with. Also the gap gives us a hint on the potential bottom of the cup so we may get a better entry point.
Best luck investing!
$PDD Consolidation + Neutral Outlook$PDD has been strong lately. Watching this consolidation triangle for a break in either direction. Upward leads to ATH, Downward leads to the GP.
$PDD with a bullish outlook after earning releaseThe PEAD projected a bullish outlook for $PDD after a positive under reaction following its earning release, with the stock placed in Drift A
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PDD over 144.79Nice consolidation facing big resistance at this level. Some unusual and bullish option order flow supporting this as well.
PDD5 waves up complete. I think the long term price for PDD will be around $100, and short term TP would be the MA 50 line.
PDD Short if crosses 126.94Gap fill if goes below support levels.
Option market highly negative on the stock.
Why pay more ?So some followers who had benefited from my early trade post on Pinduoduo are excited to load up , so they are asking where is a good entry point.
Read the latest news here
This article here highlights the new investment foray that the company is moving into. This will inevitably requires costs and profitability in the short term may be affected before they pick up the momentum.
From the chart, we can see a parabolic, 90 degree shoot up in pricing since it breaks out from the weekly resistance. I do not like to chase the high as funds can be deployed elsewhere.
We had made almost 4 fold returns if you average entry price is 30 dollars and hold till now.
For those keen to buy/accumulate, you can wait for the gap to be closed and see if the price action finds some support at 113-116 level.
I wish you all the best in your trades. Give me a cheers, follow me or feel free to drop your comments in the box below.
PDD - inside daily candle - 11/16/2020set you alerts at Today's high/low. if it breaks with volume , expect it to continue on to the target set on that side of the break.
#PDD $PDD
PDD Pinduoduo Inc. - Neutral$NIO if trump signs another order to ban China internet companies and EV companies, they all tank like sh*t. $BABA $PDD $JD $LI
