JD - short term weakness

JD.com (JD) struggled across the day, settling -5.5% at $40.69. Near term outlook offers the 38s, where the 50dma is lurking, along with a partly unfilled gap. Mid term outlook remains bullish, with first soft target of the psy' level of $50.00.


JD, daily

JD, weekly, 4yr

Summary

JD is a company I've only recently started tracking. It can be looked upon as something of an Alibaba (BABA). Unlike BABA though, JD is yet to generate a net profit...

Key stats: https://finance.yahoo.com/quote/JD/key-statistics?p=JD
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Suffice to add, Monday saw it break a new historic high of $44.18, but it saw some intraday swings, settling with a black-fail candle. Such candles lean to the equity bears... and today saw it confirmed.

Near term offers further sig' weakness to the $38s, the 37/36s on a stretch.

So long as the sp'2400 threshold holds, JD should then resume upward to hit $50 by late summer.