JD, Bullish Cypher pattern
Updated
JD.COM rallied from 20 to 49 within a year, and after it failed to break 49 fig level in 8/8 in addition to the earnings report in 8/8, it plunged about 20%.
JD is one of the most competitive competitor with BABA, as this BABA rocket keeps on surging to the sky, JD should also be attractive to those who are too scared to buy BABA above $165.
Based on this bullish Cypher pattern, it suggests to buy around 40.
While as always, I need at least one more reason to convince me, so I'll focus on if there are
1. Hammer
2. Double bottom
3. inside bar breakout
happened here , I don't mind if it happens on smaller time frame.
If so, it might be a good try to long and the potential out is below 38.50.
JD is one of the most competitive competitor with BABA, as this BABA rocket keeps on surging to the sky, JD should also be attractive to those who are too scared to buy BABA above $165.
Based on this bullish Cypher pattern, it suggests to buy around 40.
While as always, I need at least one more reason to convince me, so I'll focus on if there are
1. Hammer
2. Double bottom
3. inside bar breakout
happened here , I don't mind if it happens on smaller time frame.
If so, it might be a good try to long and the potential out is below 38.50.
Note
30min double bottom entryNote
got my 1st kick @ 41.92Note
daily double bottom about to be formed (waiting for it to break 43.06)
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