PDDD trade ideas
Pinduoduo Long Entry: 13:29:43 (UTC) Wed Jun 10, 2020Pinduoduo Long Entry: 13:29:43 (UTC) Wed Jun 10, 2020
$100 TP in 1 MonthSounds crazy, isn't it? But everything is possible in this crazy market. My bet is PDD could reach $100 in a super short term. From 2 weeks to a month, we should see it hit there. Not a good company, but a good stock to buy.
PDD doughAnalysis done on 25/05/2020
Fundamental
→ 20 & 40 SMA sloping up
→ 20MA > 40MA
Awaiting buy trigger
→ CCI <-100
→ Low of daily bar touches 20MA or goes below 20MA
→ Close above 40MA
Pull trigger
→ Buy 1 bid above previous day high
→ Sell 5 bars later exclusive of initial bar
Stop Loss
→ 50% below price bought
# PDD short and target green area stop loss red line PDD
# PDD you go for short and stop trade is red line and target is green area .
Thanks
PDD AB=CD pattern since IPOPDD keeps making new all time high recently and 2 weeks later there'll be their earning report.
Here we got this huge AB=CD pattern finished @ 60.00, which may make me turn a little bit bearish mindset.
At least, no longer would like to long in this spot before the ER,
a pullback to 50.00 spot may also be a good long though.
Let's see how it goes yo!
PDD pulling back to support + 20-day moving averageLooks like a good risk/reward setup in PDD. Fairly new name that has acted well during the recent volatility.
Pinduoduo $PDDPinduoduo rallied great and now is pulling back. Just below the 20SMA and rsi trendline. may back test but needs some time to rest.
Expecting some sharp retrace soonThis is my setup for shorting PDD, great stock as competitor of Alibaba. It's been 7 weeks straight bulls, I'd take some opportunity on doing a retrace.
Sell order @ 52.2
PDD LONG entry on breakout of downward trendlineAs PDD broke its major downward trendline , a long position with a good reward to risk ratio can be entered with a tight stop.
Factors leading to the decision:
- The recent downtrend has been broken with decent volume
- The 20ma was broken and held, pulling in moving-average traders off the side-lines
- A recent low offers a perfect spot to put a logical technical stop
As always, respect a tight-stop. If it rips up, let it run and trail stops behind.
Pinduoduo Inc gets Multiple Upgrades $pdd
Busy morning for PPD analysts with multiple upgrades coming into earnings.
Goodman Sachs = Buy rating
UBS = Buy rating
Credit Suisse = Outperform
Very bullish as earnings approach, but like every other stock, it will be very difficult to trade in the current market.
Will be on the watch-list for the days to come if market can stabilize
PDD Short Now - Low Risk Entry Points to WatchChinese markets are currently taking a hit and PDD happens to be coming off a new all-time high and bearish divergence.
Bearish divergence on RSI lead to a new high and eventual price break down.
We are currently sitting at the .382 fibonacci retracement level.
Similar scenario in previous cycle (2018-2019) where bearish divergence occurred and eventually had price fall to the .786 fib level which lines up with our major support line.
.786 fib level for current rally lines up perfectly with the major support line as well. This is exciting. Not only with the major support line but it lines up with the .618 fib level of the previous rally mentioned above.
This price level, approximately $22-$23.50 is the mother of all buy zones in my opinion. Now we may not even go that low but if we do I will be pretty confident in longing there.
I will be looking to make more plays in the other targets above as well, but I’ll be buying bigger bags as we reach the lower and lower levels considering the indicators line up at the time.
I will update as we move forward, good luck trading. Cheers!
Long Opportunity!!Set up perfectly to head higher. I hope tests 33.38, pulls back and then heads higher. I would put the trigger price at above yesterday's high of 33.38. I really like this idea if price actions acts as described above. This one could be a great winner!
