JD.com may fall to 22.40 - 23.30

Our pivot point stands at 27.5.

Our preference

The downside prevails as long as 27.5 is resistance.

Alternative scenario

The upside breakout of 27.5 would call for 28.9 and 29.8.

Comment

The RSI is trading below 30. This could mean that either the stock is in a lasting downtrend or just oversold and that therefore a rebound could shape (look for bullish divergence in this case). The MACD is below its signal line and negative. The configuration is negative. Moreover, the stock is trading under both its 20 and 50 day moving average (respectively at 28.83 and 30.123). Finally, JD.com is trading below its lower daily Bollinger band (standing at 26.35).

Supports and resistances

29.8 **

28.9 *

27.5 **

26.9

25.84 (USD-last)

24.1

23.3 **

22.4 *

21.6 **

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