JD.com sits in daily support [Video]
JD.com is the largest retailer in China, a member of the NASDAQ100, and a Fortune Global 500 company. It was founded in 1998 and it launched an online marketplace business in 2010 which allowed it to expand its product offering. It releases its earnings before the open on Thursday, May 11.
Although the seasonal data is only based on 8 years, there is a bias towards summer gains. Could this bias coincide with a lift in China’s economic activity post-Covid? Seasonally, the company has gained 75% of the time with an average return of 8.90%.
Major trade risks: The major risk here has to do with the outlook for the global economy and whether or not China’s anticipated post-Covid pick-up emerges.