JD.com (9618.HK): Channel Play

Published On: 10 November 2023, 3:15 PM | Sean Ng, Dealer

Key Entry Price Pivot(s):
  • $102.00
Recommended Trade:
  • Short below $102.00, take profit at $88.00, stop loss at $108.00
Alternative Case:
  • Long above $102.00, take profit at $120.00, stop loss at $97.00
  • com is pushing all-time lows with downward momentum
  • Price is currently forming a downward channel on the daily chart
  • The 50 EMA is downtrending as well and price is trading below it, setting up for a potential short trade