Swing Trade Idea (JD) – September 3, 2021
Our bullish trade for Friday, Sept 3rd is JD.Com (JD). JD is part of the Discretionary Sector (XLY). XLY has experienced a 1.7% gain as price starts to rebound after pulling back to support at $175.
JD is breaking out of its consolidation range and both 1M and 6M trends are now bullish. With a technical score of 4 (out of 10), JD is a weak weak stock that will likely move higher from current levels.
As a close, if JD were to trade below $77 for multiple days, this would invalidate our analysis and we would focus on cutting losses on the trade. We also would consider cutting losses on this options trade if the value of the vertical spread moves below $2.25.
