The bullish DailyPlay for Thursday, October 1st is JD (JD). JD has experienced a 6% decline over the past month after a strong rally and its 1M and 6M trend turned bullish yesterday.
- 2020 Q2 revenue grew by 34% YoY. Projected 2020 revenue expected to rise by 23%.
- Competition risk mitigated by strong network distribution and broad logistics reach supported by its partnership with Tencent.
- Increased demand in online purchasing due to pandemic and partnerships with Google and Tencent is expected to provide improved customer service and aid in new avenues for growth.
Technical View – IV Rank 32%
- Recently pulled back after reaching all-time highs to an area of support and bounced higher with strong momentum.
- Both 1M and 6M trends are bullish.
- Very strong relative strength score (9 out of 10).