The current trend for PDD Holdings Inc (NASDAQ:PDD), owner of Temu and Pinduoduo, is moderately bearish.
The Shanghai-based online retailer saw its share price spike 78.36% over the past year. However, it's down 4.6% year-to-date.
Let's look at what the charts indicate for PDD and how the company, scheduled to report second-quarter earnings on Monday, currently maps against Wall Street estimates.
PDD Bullish Momentum
The stock is currently experiencing slight selling pressure. However, several technical indicators are pointing towards potential bullish momentum.
Chart created using Benzinga Pro
The PDD share price of $139.07 is above the 20-day simple moving average (SMA)of $137.66, the 50-day SMA of $137.63 and the 200-day SMA of $133.79, all signaling a bullish trend.
However, the eight-day SMA of $145.48 spells short-term bearishness. This suggests investor caution.
Chart created using Benzinga Pro
The Moving Average Convergence Divergence (MACD) indicator stands at 2.91, further supporting a bullish outlook. Despite these bullish signals, the Relative Strength Index (RSI) is at 49.43, indicating that PDD stock currently lies in the neutral territory, neither overbought nor oversold.
The Bollinger Bands (25) range between $120.67 and $152.37, suggesting a potential bullish movement as the stock currently trades above the upper bullish band.
Read Also: $100 Invested In PDD Holdings 5 Years Ago Would Be Worth This Much Today
PDD Analysts See 45% Upside
Ratings & Consensus Estimates: The consensus analyst rating on PDD stock stands at a Buy currently with a price target of $161.47 a share. Barclays, Goldman Sachs and Citigroup recently rated PDD stock, setting an average price target of $202, suggesting a 44.85% upside.
Wall Street expects $2.73 in EPS and $14 billion in revenues when the company reports Q2 financials on Monday.
PDDPrice Action: PDD stock was trading at $139.45 at the time of publication.
オーストラリアでは、moomooの投資商品及びサービスはMoomoo Securities Australia Limitedによって提供され、オーストラリア証券投資委員会(ASIC)の管理を受けております(AFSL No. 224663)。「金融サービスガイド」、「利用規約」、「プライバシーポリシー」などの詳細は、Moomoo Securities Australia Limitedのウェブサイトhttps://www.moomoo.com/auでご確認いただけます。
オーストラリアでは、moomooの投資商品及びサービスはMoomoo Securities Australia Limitedによって提供され、オーストラリア証券投資委員会(ASIC)の管理を受けております(AFSL No. 224663)。「金融サービスガイド」、「利用規約」、「プライバシーポリシー」などの詳細は、Moomoo Securities Australia Limitedのウェブサイトhttps://www.moomoo.com/auでご確認いただけます。