Pinduoduo (PDD) Breaks Support

Pinduoduo Inc. (PDD) operates as a holding company, which engages in the development and management of an e-commerce platform. Its Pinduoduo mobile application offers a selection of merchandise for buyer acquisition and engagement…

Take a look at the 1-year chart of Pinduoduo (NASDAQ: PDD) below with added notations:

PDD broke a key level of support at $130. A trader could enter a short position on any rallies up to or near $130 with a stop placed above the level. If the stock were to break back above the $130 level, a long position might be entered instead.

Want to Discover More Great Trades?

I have explored virtually every flavor of technical analysis and chart pattern known to mankind. The sad fact is that the vast majority of them don’t work at all.

That is why I recently put together this special report to help investors focus on the only 5 chart patterns that matter…the ones that lead to the most timely and profitable stock trades. Click below to get your copy now!

5 WINNING Stock Chart Patterns

Have a good trading day!

Good luck!

Christian Tharp, CMT

@cmtstockcoach