CFD Trading – Sell Pinduoduo (PDD.NAS) @ $80.10. Stop @ $85.60 and Target @ $69.80

Pinduoduo Inc. Stock Code PDD.NAS

Price broke below the cloud on 17 Sep 2020 and on the following day; there was a bearish Engulfing candlestick price pattern, which confirms the new bearish trend. Conversion and Base lines had a bearish crossover, confirming the bearish trend. Lagging Span is below price of 26 days ago but is inside the cloud at the moment. MACD is bearish with both of its lines below the zero line and pointing lower, hinting of more price declines ahead. Conversion line is currently capping price rally and if price continues to be capped, it is likely to be heading lower to the next support at $69.72.

$80.10                Sell
$69.80                Price Target
$85.60                Risk Management Stop
3 weeks Trade Duration

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