9PDA trade ideas
PDD Bouncing back to Major Resistance to close the weekI ma buy right when it bounces back. PDD is gonna rally higher with the rise from the recently released IPO NIO, and few other chinese stocks have good news.
PDD 4 classical trades after IPO.PDD had rallied for more than 15% after its news with NTES.
It had an inside day yesterday, here we got 4 different trades in the same daily chart.
1. Bearish bat
2. 2618+demand zone
3. inside day breakout after pivot high
4. inside day breakdown after 0.618
and actually I like all of them!
so let's see how it goes!!
PDD 1st inside day after IPO,let's see how momentum worksThere are plenty of bear news after this IPO to break its initial price 19.00 yesterday.
People in China keep on making fun of the quality on this platform recently, many of which are genius lol.
Still, to short an IPO is not that easy so that we can take the recent slump as profit taking and stop loss selling cycle,
when it's already in 19.00 and form an inside day, to long the breakout is still a trade that worth the risk (only if having gigantic risk appetite) .
On the other hand, if it breaks to the downside, the panic momentum would probably make new lower low than the mother bar.
So it'll be interesting to watch how the market deals with this inside day, and maybe use some tiny risk to take part in the party for me.
Let's see how it goes!
