JD - climbing from the floor

Whilst the main market saw a day of mostly fractional gains, there was significant strength in JD.com (JD), which settled +1.5% at $39.01. Last week's low of $35.79 marks an increasingly secure m/t floor. First big target is the Aug'8th high of $48.99, and then the psy' level of $50.00.


JD daily

JD monthly

Summary

Suffice to say, last week likely saw a key m/t floor, after choppy cooling from the Aug' high.

I am m/t bullish JD, and it is a very valid alternative to Alibaba (BABA).
--

Its notable there was some call buying in JD last week...

--

*Earnings are due Nov'13th (pre-market), and I expect them to come in at least 'reasonable', and it would be the natural excuse for renewed mainstream interest, with the stock to push well into the $40s.