JD.com may rise to 53.40 - 56.50

Our pivot point stands at 38.7.

Our preference

The upside prevails as long as 38.7 is support.

Alternative scenario

Below 38.7, expect 34 and 31.1.

Comment

The RSI is trading above 70. This could mean that either the stock is in a lasting uptrend or just overbought and that therefore a correction could shape (look for bearish divergence in this case). The MACD is above its signal line and positive. The configuration is positive. Moreover, the stock is above its 20 and 50 day moving average (respectively at 35.0778 and 29.8853).

Supports and resistances

59.5 **

56.5 *

53.4 **

50.5

43.54 (USD-last)

40.7

38.7 **

34 *

31.1 **

Number of asterisks represents the strength of support and resistance levels.