$PDD PinDuoDuo post earnings August 2022
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The move below $67 today, signifies weakening demand
Failure to close on its highs is weak
Long term, it appears it has a new 4.5 year cycle that has started since March
Short term: confirming recent $67 resistance, is necessary for shorts
$57 target
not worth monitoring unless it goes under $67
30aug22 1313 cst After reconsideration; $PDD is the wrong trade idea for this week.
30aug22 945 cst $PDD activated for shorts under 67.00 on market volatility but its added weakness and position in time are hurting in more today. Be careful with multiday bets. Needs a large move to get to 57.00. stop is breakeven of course. The downmove needs to be from an intraday 5 hr cycle failure to selloff more. This may happen.