JD.COM INC (JD.O)

Every week Tech Charts Global Equity Markets report features some of the well-defined, mature classical chart patterns under a lengthy watchlist and the chart pattern breakout signals that took place during that week. Global Equity Markets report covers single stocks from developed, emerging and frontier markets, ETF’s and global equity indices. The report starts with a review section that highlights the important chart developments on global equity benchmarks. This blog post features from the watchlist section a rectangle chart pattern opportunity, listed on the Nasdaq Stock Exchange.

JD.com, Inc. is an online direct sales company. The Company engages in the sale of electronics and home appliance products and general merchandise products (including audio, video products and books) sourced from manufacturers, distributors and publishers in China on the Internet through its Website, www.jd.com. The stock is listed on the Nasdaq Stock Exchange. Price chart formed a 5 month-long rectangle with the horizontal boundary acting as strong resistance at 32.00 levels. The horizontal boundary was tested several times over the course of the chart pattern. A daily close above 33.00 levels will confirm the breakout from the 5 month-long rectangle with the possible chart pattern price target of 38.25 levels. (Data as of September 16, 2019)

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