JD.com (JD)
By Thu, Jan 14, 2021
Fun fact: Emerging markets just saw their highest weekly close of all time.
Another interesting statistic to take note of? China represents over 40% of emerging markets!
That means we should be paying attention to Chinese internet, tech, and retail stocks.
With that in mind, today’s Chart of the Week is JD.com (JD), a Chinese internet stock.
We are long above $85, with an initial price target of $100.
Below $85, we can just leave JD alone, but I see this going to $150 big picture.
Til next week, good trading,
JC Parets
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About the Author
JC Parets, founder of All Star Charts, specializes in finding the most opportunistic risk vs. reward propositions while at the same time bringing a top/down approach to the marketplace whose wide spectrum is rivaled by few. JC begins with a long-term global macro perspective and then works his way down to the individual sector and industry level before ultimately isolating the stocks that best portray a particular thesis. Price is the most important technical indicator, but JC uses supplements such as Momentum, Relative Strength, and Fibonacci analysis to complete the process.
