Pinduoduo Stock Forecast
About Chart
Golden Star
The Golden Star is a refined bullish signal based on the Golden Cross, developed by Jim Stromberg, incorporating additional time frame-specific moving averages and precise price line crossings. This signal is effective for liquid stocks, highlighting short-term upward momentum.
Death Star
The Death Star, developed by Jim Stromberg, is the bearish counterpart to the Golden Star, serving as a sell signal. It is triggered by specific moving average crossings on the price line, indicating a likely prolonged decline in the stock.
Golden Cross
The Golden Cross is a bullish signal where the short-term moving average crosses above the long-term moving average, indicating potential upward momentum.
Death Cross
The Death Cross is a bearish signal where the short-term moving average crosses below the long-term moving average, indicating potential downward momentum.
Pivot Bottom
A Pivot Bottom is a significant low point identified by algorithms developed by StockInvest.us. While it may indicate a short-term directional change, it does not necessarily imply a complete trend reversal. Pivot Bottoms are marked as green circles on the price line.
Pivot Top
A Pivot Top represents a significant high point identified by algorithms developed by StockInvest.us. Similar to Pivot Bottoms, it may suggest a short-term directional change within the main trend, rather than a full trend reversal. Pivot Tops are marked as red circles on the price line.
RSI Oversold
RSI oversold indicates that a stock has declined significantly and may be undervalued, potentially presenting a buying opportunity. This condition is marked by a green line on the chart but should be confirmed with other indicators before taking action.
RSI Overbought
RSI overbought suggests that a stock has risen rapidly and may be due for a pullback. It is marked by a red line on the chart, signaling increased risk. This doesn’t necessarily mean it’s time to sell, but it’s important to monitor closely.
Accumulated Volume
The bars indicate how much stock has been traded on each price during the chart period.
Buy Signal (MA)
Buy signal from moving average indicating potential upward movement.
Sell Signal (MA)
Sell signal from moving average indicating potential downward movement.
AI Analysis of PDD
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Green day on Friday for Pinduoduo stock after gaining 2.25%
(Updated on Oct 11, 2024)
Sell candidate since Oct 10, 2024
Gain 2.25%
The Pinduoduo stock price gained 2.25% on the last trading day (Friday, 11th Oct 2024), rising from $141.58 to $144.76. During the last trading day the stock fluctuated 5.04% from a day low at $138.39 to a day high of $145.37. The price has been going up and down for this period, and there has been a 6.93% gain for the last 2 weeks. Volume fell on the last day by -1 million shares and in total, 9 million shares were bought and sold for approximately $1.29 billion. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies the upper part of a very wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at $153.46 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -6.34% during the next 3 months and, with a 90% probability hold a price between $78.81 and $143.73 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
PDD Signals & Forecast
The Pinduoduo stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $147.52. On a fall, the stock will find some support from the long-term average at approximately $114.81. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Friday, October 04, 2024, and so far it has fallen -6.16%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Pinduoduo stock
On the downside, the stock finds support just below today's level from accumulated volume at $135.38 and $134.81. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Pinduoduo finds support just below today's level at $135.38. If this is broken, then the next support from accumulated volume will be at $134.81 and $129.40.
This stock may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved $6.98 between high and low, or 5.04%. For the last week, the stock has had daily average volatility of 3.96%.
The Pinduoduo stock is overbought on RSI14 and lies in the upper part of the trend. Normally this may pose a good selling opportunity for the short-term trader, but some stock may go long and hard while being overbought. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely and it is of great importance that the stock manages to break the trend before that occurs.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (PDD) For The Upcoming Trading Day Of Monday 14th
For the upcoming trading day on Monday, 14th we expect Pinduoduo Inc. to open at $142.84, and during the day (based on 14 day Average True Range), to move between $137.72 and $151.80, which gives a possible trading interval of +/-$7.04 (+/-4.86%) up or down from last closing price. If Pinduoduo Inc. takes out the full calculated possible swing range there will be an estimated 9.73% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $144.86 (0.07%) than the support at $135.38 (6.48%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Pinduoduo Inc. stock A Buy?
Pinduoduo holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.
Current score:
-1.247
Sell Candidate
Unchanged
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Predicted Fair Opening Price
Predicted fair opening price on October 14, 2024 - $142.84 ( 1.33%). The predicted opening price is based on yesterday's movements between high, low, and closing price.Trading levels for PDD
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 149.82 | 3.49% |
| R2 | 147.15 | 1.65% |
| R1 | 145.51 | 0.515% |
| Price | 144.76 | |
| S1 | 140.17 | -3.17% |
| S2 | 138.53 | -4.31% |
| S3 | 135.86 | -6.15% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 152.71 | 5.49% |
| R2 | 145.64 | 0.608% |
| R1 | 144.86 | 0.0691% |
| Price | 144.76 | |
| S1 | 135.38 | -6.48% |
| S2 | 134.81 | -6.87% |
| S3 | 129.40 | -10.61% |
FAQ
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