IvanLabrie

$PDD: Strong earnings and strong chart

Long
NASDAQ:PDD   PDD Holdings Inc.
PDD has had a great quarterly report despite the slowdown in China as of late, chart wise the setup points to a weekly advance but possibly also a quarterly timeframe trend.

You can see the levels where you can bid on retrace next week, if tested, but I would consider entering long positions right away as well, there's various ways of engaging after a trend signal triggers. Ultimately, the odds of continued upside justify entering sooner rather than later, given the reward to risk and probability being on your side.

The bonus here is that after this weekly advance pans out you could be in for the ride in a longer term trend, offering the setup some 'call option' upside long term. I would suggest trimming exposure after 8 weeks or after all targets are hit, as long as the idea isn't stopped, to then ride a low risk but smaller long term position.

Best of luck!

Cheers,

Ivan Labrie.

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