Chinese ADRs seem to have a wonderful week, with significant gain this week. The retrace started last night. To end the week, I think tonight these stocks will continue to retrace. I should have make the prediction earlier this week but too bad that I am over occupied. Anyway, I try to make some prediction earlier next round.
Many believe that the Chinese stocks are reaching their bottom and start to add their positions at current level, including some investment firms. However, in short term, at least for these 2-3 trading days, the retracement will continue and the technical might form a higher low before next rally. Therefore I am $Alibaba(BABA)$ $Pinduoduo Inc.(PDD)$ $JD.com(JD)$ $iQiyi Inc.(IQ)$ Bearish.
PDD daily chart
The only stock that I look good on will be $Pinduoduo Inc.(PDD)$ BullishBullish, for being so bullish and keep breaking recent high. The pullback at yesterday night is nothing and very healthy. Next rally will be engaged pretty soon, following the big sales 11.11 season in China! How do you think?
@TigerStars @MillionaireTiger @Tiger_SG @Tiger_comments @CaptainTiger
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Comments
just sold my 500 shares. made good money. just a precaution. Amazon is having its 2nd day big sale. might cause this stock to drop? $拼多多(PDD)$
With NASDAQ correcting 1500 points and BABA missing the earnings we can finally expect BABA shares RALLY. I expect 70 cents loss for the 3rd quarter for BABA and sharp rise of the stock to 95-105 area.
Alibaba dragged down by JD. Fundamentally Alibaba is more solid.
I did buy JD yesterday to diversify and JD's potential is that the total business is smaller and if growth were to accelerate in JD its price could more rapidly increase.
111.68 hit today, personally I am bearish on PDD because of valuation; I see this going below 100 by end of year.
The buyback of Alibaba at least compounds our average and increases our value, always look on the bright side of life