Technical Analysis: PDD shows strong bullish momentum with RSI-14 at 69.02, approaching but not yet in overbought territory. The stock is trading above all major moving averages (SMA 5,10,20,60), indicating a robust uptrend.
Price Movement Analysis:
News Impact:
Price Target Prediction for Next Week: Based on technical indicators and Fibonacci levels:
Trading Recommendation: BUY with entry point at current price ($124.34) with following targets:
Rationale:
The price of PDD is predicted to go up -6.49%, based on the high correlation periods with UVSP. The similarity of these two price pattern on the periods is 97.45%.
PDD
UVSP
Year
PDD Price Forecast($)
Potential Return(%)
2025
97.220
0.410
2026
140.000
25.100
2027
180.000
60.840
2028
180.000
60.840
2029
180.000
60.840
2030
250.000
123.390
Temu might break even faster than anticipated while maintaining an above-industry growth rate.
Despite concerns such as higher import taxes in the US for its overseas e-commerce platform Temu, the firm could deliver better-than-expected overseas sales due to effective execution.
If PDD successfully adopts generative AI in its platform, it could help customers buy products that meet their specific demands better than its peers, leading to market share gain.
JP Morgan
2024-11-22
Price Target
$170 → $105
Upside
+4.93%
Benchmark
2024-11-22
Price Target
$185 → $160
Upside
+59.89%
Macquarie
2024-10-07
Price Target
$126 → $224
Upside
+46.32%