Earnings ahead: what to do with Pinduoduo after its long decline?
Chinese-concept stocks have suffered a big hit this year. The share price of $PDD Holdings (PDD.US)$, which will report quarterly earnings today, has fallen 54% year to date amid the regulatory pressure and growth worries.
Will the upcoming earnings lift the suppressed stock price? No one has a 100% answer until the earnings come out.
However, the technical chart may provide a buy-point/sell-point reference.
How to read the support and resistance levels on moomoo?
How are support and resistance levels helpful in trading?
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Technical analysis is often used to generate short-term trading signals from various charting tools. It can be helpful in optimizing your decision and controlling investment costs.
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The resistance level of stock often marks the level when a stock rally runs out of gas. Conversely, as a price gets closer to the support level it signals a buying opportunity.
The above chart showed the average cost, support and resistance are $95.1, $79.1 and $96.7 respectively. The latest close price of $PDD Holdings (PDD.US)$ on Wednesday, 11/24 is higher than support while 18.8% lower than resistance.
How about your cost? Will PDD break through resistance or test support after earnings release? What to do with Pinduoduo after its long decline?
Read the full article for protips in using support and resistance levels. Click the below course.
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Happybee7158 : Its important to know the supporting and resistance point. Along the way the chart show on high low points with the news etc. Yty data analysis to support the decision.