JD - climbing on fine earnings

JD.com (JD) had fine earnings, starting the week on a very positive note (intra high $42.77), settling +3.4% at $41.34. Soft target are the 49/50s. The hyper bulls should be seeking $100 within 12-18mths.


JD daily

JD monthly

Summary

Suffice to add... price action in JD is very clean. We have a m/t low in October of $35.79, with a clear break of the downward trend from August.

With fine earnings, the stock is justifiably strong, with soft target of the $49/50 zone. That looks a given within a few months, and frankly, its not a stretch to see $100 in 2018.
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Pete Najarian of investitute.com, is seeking the $45s within the relatively near term. That does seem a very valid target before year end.
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*an obvious valid alternative for the more cautious is Alibaba (BABA), which is now a very profitable company.

GDX - a net weekly gain

With the precious metals seeing moderate net weekly gains, the related miners followed. The gold miner ETF of GDX ended the week on a significantly negative note, -1.3% at $22.52, but that still resulted in a net weekly gain of +0.4%. Near term outlook is for continued weak chop.


GDX weekly

GDX, daily

Summary

To be clear, short term price action is likely to see a further weak chop, but a major upswing is increasingly due.

The most (indirect) bullish variable/signal remains copper, which is comfortably holding well above the key $3.00 threshold. The copper miners themselves are broadly strong, and the gold/silver miners should (in theory) eventually catch up.

AA - short term weak

Alcoa (AA) has been leaning weak for a few weeks, and with the main market seeing the first sig' weakness in a few months, the stock rapidly cooled, settling -5.6% at $43.33. There is major support around $40.00, which should comfortably hold. M/t bullish to $60.00.


AA daily

Summary

Suffice to add, even after the climb from the $28s a year ago, with an FPE in the 13s, the stock is still not expensive,

Short term threat of testing the $40.00 threshold, but that should comfortably hold. M/t bullish above the Oct'24th high of $50.31, and onward to next soft psy' level of $60 by mid 2018.