As JD should have already logged the low of the latest intermediate correction within our green Target Zone ($28.97–$23.81), nothing should now prevent it from breaking out of this price range to the upside. After that, the stock should first clear the resistance at $47.90 and ultimately complete a larger upward leg well above that level as part of the ongoing impulse move. According to our alternative scenario, however, a new broader low could still emerge imminently below the support at $23.81 (probability: 40%).
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📊 Daily market insights combining macro + Elliott Wave analysis
🚀 Spot trends early with momentum, sentiment & price structure
🌐 Join thousands trading smarter at hkcmglobal.com
🚀 Spot trends early with momentum, sentiment & price structure
🌐 Join thousands trading smarter at hkcmglobal.com
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.