JD.COM rallied from 20 to 49 within a year, and after it failed to break 49 fig level in 8/8 in addition to the earnings report in 8/8, it plunged about 20%.
JD is one of the most competitive competitor with BABA, as this BABA rocket keeps on surging to the sky, JD should also be attractive to those who are too scared to buy BABA above $165.
Based on this bullish...
JD was in our watch list from quite a while as a short candidate. Now it has broken down its upward channel formation. It has potential to dropdown all they way down to $35 area. We think it will be a good short if it breaks down or retest channel line.
* Trade Criteria *
Date First Found- August 17, 2017
Pattern/Why- Upward channel breakdown short
Entry...
JD is a strong stock and might shoot up after ER, but just take extra caution there's a chance it might retest the support and continue at the bottom blue line and also watch out the RSI.
Wow look at the current RSI levels there. Never seen them that high on a weekly chart before. Solid signals across the board here for an entry back there in April. RSI gives a signal along with price action breaking resistance. That signal carries more weight.
using two MACD time frames here to give better signals.
Remember to always draw trendlines when dealing with MACD. They can help give better signals when the trendline is broken along with another signal like a zero crossing.
MACD signals along with price action breaking resistance levels are signals that carry more weight. Better odds if you wait until...
