$PDD Holdings Inc(PDD)$ sold o

2024-08-27

$PDD Holdings Inc(PDD)$ sold off into trendline support. I would be apprehensive about shorting off this level after it filled the 95 gap.

Yesterday's daily candle closed with the largest volume in years, and we are retesting a prior resistance level from above, suggesting a potential S/R flip is taking place.

I'm expecting some volatility ahead as the stock consolidates around this level, but ultimately think that it will resume its uptrend in the coming weeks.

Am positioned for the reversion back to the upside, considering the weight of this selloff.$PDD Holdings Inc(PDD)$

New Liquidity? Are You Bullish on China Stock Rally During CNY?

At today’s meeting, China announced a new policy stating large state-owned insurance companies are required to allocate 30% of their new premiums each year to A-share investments starting in 2025. Historically, Hong Kong and A-shares tend to perform well in January, during the Chinese New Year period. ------------------- Does this signify new liquidity for the stock market? Is it a positive signal or not? Should investors hold on for more gains or take profits now? Which Chinese stock are you most optimistic about?

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

winnerking
2024-08-28
winnerking
PDD will be the next luckin coffee
Mattie Ming
2024-08-28
Mattie Ming
Great article, would you like to share it?
TohKC
2024-08-28
TohKC
Great article, would you like to share it?
AN88
2024-08-28
AN88
Great article, would you like to share it?
tryphena
2024-08-28
tryphena
Great article, would you like to share it?
Stayawayfromstockmarket
2024-08-27
Stayawayfromstockmarket
upward trend？

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I would be apprehensive about shorting off this level after it filled the 95 gap.\nYesterday's daily candle closed with the largest volume in years, and we are retesting a prior resistance level from above, suggesting a potential S/R flip is taking place.\n&nbsp;I'm expecting some volatility ahead as the stock consolidates around this level, but ultimately think that it will resume its uptrend in the coming weeks.&nbsp; \nAm positioned for the reversion back to the upside, considering the weight of this selloff.<a href=\"https://ttm.financial/S/PDD\">$PDD Holdings Inc(PDD)$&nbsp;</a>\n<img src=\"https://community-static.tradeup.com/news/a892fda7ba9abf1fd8a8d3a96154942c\" tg-width=\"1848\" tg-height=\"863\">\n<img src=\"https://community-static.tradeup.com/news/0fa27b1a00688223eb79f536b1c01faf\" tg-width=\"898\" tg-height=\"1530\"></body></html>","htmlText":"<html><head></head><body><a href=\"https://ttm.financial/S/PDD\">$PDD Holdings Inc(PDD)$&nbsp;</a><v-v data-views=\"1\"></v-v> sold off into trendline support. I would be apprehensive about shorting off this level after it filled the 95 gap.\nYesterday's daily candle closed with the largest volume in years, and we are retesting a prior resistance level from above, suggesting a potential S/R flip is taking place.\n&nbsp;I'm expecting some volatility ahead as the stock consolidates around this level, but ultimately think that it will resume its uptrend in the coming weeks.&nbsp; \nAm positioned for the reversion back to the upside, considering the weight of this selloff.<a href=\"https://ttm.financial/S/PDD\">$PDD Holdings Inc(PDD)$&nbsp;</a>\n<img src=\"https://community-static.tradeup.com/news/a892fda7ba9abf1fd8a8d3a96154942c\" tg-width=\"1848\" tg-height=\"863\">\n<img src=\"https://community-static.tradeup.com/news/0fa27b1a00688223eb79f536b1c01faf\" tg-width=\"898\" tg-height=\"1530\"></body></html>","text":"$PDD Holdings Inc(PDD)$ sold off into trendline support. 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