$PDD - EARNINGS JUST RELEASED -
Added 2024-08-26 12:02:16 +0000 UTC$PDD missed on their EPS estimates by -71% and this has caused the stock to drop -17.5% right now in the PM
$PDD has been the darling of Chinese ADRs over the last 2 years and has climbed from $23 to $165 in that time.
I have added in the red validation impulse line at $110 but so far the pull back has held on the 0.887 Fib at $115, which is the last fib support level.
Dropping below the red line and the price could drop to between $94 - $77
Otherwise, price can still stay in this impulse wave but CEO has said that its current growth rate is going to face competitive challenges......$AMZN and $BABA.
Comments
it’s holding 94 zone and hit 88 hmmm you think retest lower or up
JessyyRabbit
2024-08-29 23:12:22 +0000 UTCThat's a falling knife if ever I saw one.
G4Golf
2024-08-26 14:31:57 +0000 UTC
