Resistance

Billion

Daily

Time

<ul class="list-ic vertical"> 
 <li> <span>1</span> <a>PDD stock price surged 22% (approx) this week</a> </li> 
 <li> <span>2</span> <a>PDD Holdings company reported quarterly earnings on Tuesday 29th August.&nbsp;</a> </li> 
 <li> <span>3</span> <a>PDD stock is nearing the round level of $100 which might as a major resistance to the price.</a> </li> 
</ul> 
<p>PDD Holdings (PDD stock) price hiked 22% (approx) this week since Monday. The price experienced a hike after the disclosure of the quarterly results on Tuesday. The Earnings triggered a Gapped Up opening of nearly 12% followed by a surge of 3% more adding a 15% intraday gain on Tuesday.<br><br>PDD Holdings company reported quarterly results on Tuesday with a reported revenue of 7.20 Billion against an estimated revenue of 5.98 Billion surprising the Wall Street estimates by 20%. The Earnings stood at $1.44 Billion beating the estimates by 43%.&nbsp;</p> 
<p>The earnings led the base for a breakout and the investors did the rest of the work. Thus, hiking the price from $80 to hit a 3-digit round number of $100 in just 4 intraday sessions.&nbsp;</p> 
<p>The PDD daily chart shows that the price formed a bullish flag at the top of the ongoing trend and made a breakout of it. The price declined but got the support of buyers from the key moving averages 50 and 200 EMA and thereafter the buyers went aggressive.<br><br>The Analysts offering a 1-year price forecast for PDD Holdings have a max estimate of $159.12 and a minimum estimate of 79.06. PDD Holdings is a multinational commerce group that aims to connect more businesses and people to the digital economy. It has a network of sourcing, logistics, and fulfillment capabilities to support the underlying businesses.&nbsp;</p> 
<div class="wp-block-image"> 
 <figure class="aligncenter"> 
  <img decoding="async" src="https://lh5.googleusercontent.com/VxAXl67SiZevu2_qo9tUEQm2KBUQVRoLiqdeMFyG8HWVbRNPjWd6mXUEIHY-F_MBD2zXT9GuCVFuu33NaxNyiDUpQjOY7xbaNyO_LZdXuc6iiTsE7WGpqfWN6K9kDKqXt1hptaPVyMMup4ydK8g8DA" alt="PDD Stock Price Surges 22%: Time To Book Profit Or Hold For More?"> 
  <figcaption class="wp-element-caption">
    &nbsp;Source: barchart.com 
  </figcaption> 
 </figure> 
</div> 
<p>PDD stock option-chain analysis states that the current implied volatility in the market is 41.69% with an increment of 1.90% in the last trading session. The nearest resistance of $100 has an OI of 2764 open contracts on the CALL side and 327 open contracts on the PUT side indicating that the Sellers are in domination at the resistance which indicates that the price may possibly halt or reverse.&nbsp;</p> 
<h2 class="wp-block-heading" id="strong-pdd-stock-price-nearing-round-level-and-resistance-of-100-strong"><strong>PDD Stock Price Nearing Round Level And Resistance Of $100?</strong></h2> 
<div class="wp-block-image"> 
 <figure class="aligncenter"> 
  <img decoding="async" src="https://lh3.googleusercontent.com/R3EPt27wrIbj5TFwkb53tSvLNgV_GeGMQ25GzGGMUkYuEnqH5qRqBOOxm_LpIVbyYo50rD7fsNAucAEmFdy-5RDnOW9U7mDDXbh7enxKDVE47D1hiZi91mnJHtmZvu6AzHPdDDbXcHnW4pOucXz3mg" alt="PDD Stock Price Surges 22%: Time To Book Profit Or Hold For More?"> 
  <figcaption class="wp-element-caption">
    Source: PDD Holdings&nbsp; 1D. NYSE By <a href="https://www.tradingview.com/x/3wB4g70u/" rel="noopener noreferrer nofollow">TradingView</a> 
  </figcaption> 
 </figure> 
</div> 
<p>The <a href="https://www.thecoinrepublic.com/2023/05/29/pdd-holding-pdd-stock-pdd-price-soars-after-q1-results/" target="_blank" rel="noopener noreferrer nofollow">PDD stock price</a> currently trades at $98.14 and has gained more than 20% in the last 4 intraday sessions. Currently, reaching near a round number resistance of $100. The Analysts say that the price might consolidate or take a pullback before breaking above $100.<br><br>Analysts are also cautious that the price may turn volatile as the price has gained nearly 20% in a very short term which might trigger a profit booking among the investors to secure their return.<br><br>The price has a long-term trend upwards which is favoring the current price momentum.</p> 
<h3 class="wp-block-heading" id="strong-the-emas-showing-a-golden-crossover-on-the-daily-chart-strong"><strong>The EMAs Showing A Golden Crossover On the Daily Chart</strong></h3> 
<div class="wp-block-image"> 
 <figure class="aligncenter"> 
  <img decoding="async" src="https://lh5.googleusercontent.com/Uoq7lG-OZ8TdXBZ3qQ7trCgrBmvmwFEkt61DGiCsMmzPgfgs-mI2CJTZ_78KZy9QHkG10UpgyLt5h6JiBGKsvCRNKU060YxM4zIozUrEoQNLazeHQwJFenTO8IiiUn_9SXGEHjGK5xiT7-JOCuY5SQ" alt=""> 
  <figcaption class="wp-element-caption">
    Source: PDD Holdings&nbsp; 1D. NYSE By <a href="https://www.tradingview.com/x/3wB4g70u/" rel="noopener noreferrer nofollow">TradingView</a> 
  </figcaption> 
 </figure> 
</div> 
<p>The daily PDD stock price chart shows that the price took support from the 50 and 200 EMA which acted as entry points for the buyers and surged the price higher. Currently, the overall Technical Opinion rating including RSI and MACD is signaling a 72% buy with the strongest short-term outlook on maintaining the current direction.</p> 
<h4 class="wp-block-heading"><strong>Conclusion</strong></h4> 
<p>PDD Holdings (PDD stock) price soared 22% this week after reporting strong quarterly results on Tuesday. The revenue and earnings beat the estimates by 20% and 43%, respectively. The price broke out of a bullish flag pattern and reached nearly $100. Analysts have a max estimate of $159.12 and a minimum estimate of $79.06 for the next year. PDD is a multinational commerce group with a network of sourcing, logistics, and fulfillment capabilities. Analysts say the price may consolidate or pull back before breaking above $100 or turn volatile due to profit booking.</p> 
<h5 class="wp-block-heading"><strong>Technical Levels</strong></h5> 
<ul> 
 <li><strong>Support levels:</strong> $81.95 and $75.72.</li> 
 <li><strong>Resistance levels:</strong> $100.87 and $106.9.</li> 
</ul> 
<h5 class="wp-block-heading"><strong>Disclaimer</strong></h5> 
<p>The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.&nbsp;</p>

PDD Stock Price Surges 22%: Time To Book Profit Or Hold For More?

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