Today’s instrument is Pinduoduo Inc.‘s stock traded on the Nasdaq exchange under the ticker PDD. 

When we look at the PDD‘s chart, we can see its run-up from the $39 level to the high of $44 and also its inability to consolidate and hold onto its gains, leading to the fall into the $41 range initially and further below to the $36 range where it formed to support. It was also last found trading at the $38.30 level having the closest temporary overhead resistance at the $39 level.

Pinduoduo Inc. has scheduled a quarterly earnings announcement tomorrow 27/05/2022. If both EPS and Revenue results beat expectations, then we can expect a move close to the $44 level.

Today we can expect a move towards the $36 range, possibly falling lower.

If however, it manages to hold on to the current level, then a move towards the $41 level can be expected.

(Click on image to enlarge)