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JD.com over powers Alibaba on earnings release

Authored by TD Markets
18.11.2021
Market Overview
0
2 min

Yesterday’s movers:

  • Autohome Inc (ATHM) was down 8.45% as it gears up for its third quarter earnings report 
  • Peloton Interactive Inc (PTON) was down 6.78% 
  • Tencent Music Entertainment Group (TME) was down 6.17%
  • Baidu (BIDU) was down 5.52%

Earnings due today:

JD.com JD Pre-Market

Alibaba BABA Pre-Market

Autohome Inc ATHM Pre-Market

Vipshop VIPS Pre-Market

Stocks to watch:

JD.com (JD)

Third quarter earnings was released this morning as Earnings and Revenue beat expectations with some room to spare. The President of JD.com stated that their unique business model enables them to have better control across the business process, indicating that they have a firm grip over revenue growth over the coming years.

Technically the chart isn’t setting up ideally for the long, with some more downside expected to $79 - $80 levels before support is expected to hold, JD.com is currently up 2.48% in the pre-market trading at $85.21 at the time of writing. If the upward momentum continues there may be more substantial upside to the $95 levels if not $100 over the coming months.

Authored by TD Markets
18.11.2021
Market Overview
0
2 min
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