Bear Shark prints as price tests fib confluence @ $34 level. Price testing Upper Median Line. RSI is extremely overbought and PPO indicate declining momentum.
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...
Looks 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.
Would 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.
PDD is an example on what could happen when you mess up with your orders and not respect those. Getting into a mental trip regarding the trade, a consideration that was not made prior opening it, thus basically going against your rules!!
www.tradervue.com
Thanks to everyone for checking it out!!
At the moment this is my interpretation. I would prefer if I could count the fifth wave as the B, but it would make the third wave the smallest wave, and therefore not possible. No trades at this point
I ma buy right when it bounces back. PDD is gonna rally higher with the rise from the recently released IPO NIO, and few other chinese stocks have good news.
