JD

2020年12月7日

Green dotted line at $84.83 is the horizontal support in the new trading zone;
Redline at $82.66 is the Point of Control(POC) for the volume profile, meaning $82.66 level has been traded the most;
And $78.23 is the horizontal support for the previous trading zone between $78 and $84.

JD recently has been trading in a local downtrend tunnel highlighted in the blue region. The new support line in green has been tested severely recently, and it will continue to be tested if JD wants to break out from the local downtrend. I haven’t found JD to comment on the new regulation to require Chinese companies to be audited by PCAOB. Its F1 form here: sec.gov/Archives/edgar/data/1549802/000104746914000443/a2218025zf-1.htm on page 36 shows that JD has not been audited by PCAOB.

Although it's possible that we lose the $84.83 support level, there are still other levels to play for support rebounds as shown in the chart: $82.66, potentially $80, and $78.23.