JD.com may fall to 23.40 - 24.90

Our pivot point is at 31.9.

Our preference

The downside prevails as long as 31.9 is resistance.

Alternative scenario

The upside breakout of 31.9 would call for 34.4 and 35.9.

Comment

The RSI is below 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the stock is trading under both its 20 and 50 day moving average (respectively at 31.669 and 29.5703).

Supports and resistances

35.9 **

34.4 *

31.9 **

30.9

29.33 (USD-last)

26.3

24.9 **

23.4 *

21.9 **

Number of asterisks represents the strength of support and resistance levels.