The Long Investor

$JD

Added 2023-03-06 14:14:21 +0000 UTC

I uploaded $BABA earlier and showed that it has not come down to the 0.618-0.65 Fib yet, whereas JD, which is another Chinese conglomerate , with heavy ties to AI, has reached the 0.65 Fib and has bounced.

This is another stock that got heavily beat up over the last 2 years, pulling back all the way to the 0.88 Fib in October 2022.

But since then, the structure is very disciplined and since it has held the 0.65 Fib, it is firmly on my radar now and I also like that it is not a US stock so theoretically should not be affected by the US economy.

So what we have now is two Chinese stocks, potentially finished and/or about to finish Wave 2 and entering Wave 3.

Also, Michael Burry last week released that he added $JD heavily, almost 9% of his firms portfolio, along with $BABA, he can see what we see and fundamentally it is strong.

Conclusion, held the 0.65 Fib for Wave 2, fundamentally strong, Burry bought heavy, outside of the US, in the AI industry and undervalued.

I will be watching this closely.