JD oooooooooo JD are we creating a cup n handle? because it really looks like were creating a cup n handle short term Flag forming will drive price to 33 to finish the cup but then quickly turn after earnings on the 8th to start the handle formation bring the price to around 24 and a 22 for an extended correction wave. Obviously like most patterns this could be...
Title says it all. Sorry for my scribbled mess, old setups (many using different time frames)
but it's been respecting this channel for some time now, about to make its 5th contact if it cruises to the top and I suspect a continuation to the upside.
Sentiment has definitely changed regarding investing in Chinese stocks and JD has been a great benefactor. Over the past few months a secure base has been built in the stock and is currently sitting on weak resistance, poised for a move higher.
JD.com Inc. has a solid and strong bottom formation that is working on completion, which will provide strong support for the next uptrend. These technical patterns are ideal for momentum and swing trading, position trading and also for long-term investing because the long bottom formation is built on Dark Pool accumulation.
tomorrow looks like maybe a slight pullback to support just above $30/30.10
if it holds, some solid upside, otherwise it may continue in that descending channel. Looking for a bounce for an early entry, then sizing in if we can get a convincing breakout.
Let's go JD
ps. peep the golden cross that's imminent on the daily candle. Loooooong