$JD
Added 2024-05-17 20:01:11 +0000 UTCChinese ADRs and the HSI have all run very hot lately so we need to be prepared for a pull back soon in order to strengthen the impulse structure, we are seeing on the $BABA chart that Wave 4 is due at any stage now, since Wave 3 has already hit its 1.618 Fib....likewise $JD has now jumped from $21 to $35 now, so this is also due a pull back and it may come before the very long channel breakout.
I think any pull back from $JD, $BABA and $BIDU is an opportunity to add.
$JD has significant upside available here if it can break out of this channel, with a large support/resistance line waiting at $68.
Comments
Retrospectively a very good call here for profit taking! I was up 40% on JD, held the position, which is now only <5% up and looking by your historic charts to be heading lower still to the next fib. I’d say remains a good buy opportunity when support is found again along with some of the other CN names.
Nick E
2024-06-30 18:54:44 +0000 UTC
