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Todays Big Stock Wealthpop News

Is This Chinese Stock Your Next Short Play?


As we say time and time again, our trading strategy is all about keeping things simple. Spotting a chart pattern on a higher timeframe is about as simple as it gets. Why? Because when a large number of traders all see the same, prominent pattern on their screens, it increases the likelihood that a high number of traders will all act on the same pattern.

These patterns usually have bullish or bearish connotation attached to them, so it inspires those traders to act in a certain way. Especially when you factor in how the stock’s price typically moves when those such patterns are present.

In this case we have a classic example of a head and shoulders pattern forming on Chinese stock PDD Holdings (PDD), which is a portfolio of business, the most prominent of which being Pinduoduo.

Check out my video for all the insight into this pattern and what it means for those looking to put on a trade here.

Learn more about our favorite stocks and setups when you join The Profit Machine. Every week, you will get exclusive access to all things option trading, from the stocks I trade the most to the setups I look for when trading them. The best part, you’ll receive all my trades every step of the learning process, so not only will you get a world-class education, but you’ll also earn while you learn.

Get a jump start on your options education and put yourself in position to win in 2023. Sign up today! Until then…

Good Luck!

Christian Tharp, CMT

Christian Tharp

I am an expert stock market coach having helped over 4000 beginner and advanced traders & investors from around the world take control of their financial futures. I also write stock market related articles for the Adam Mesh Trading Group. My Chartered Market Technician (CMT) designation substantiates me as an expert in areas such as the technical analysis of stock trends, market indicators, cycles, price patterns, Elliot Wave principles, Candlestick charting, analyzing financial trends and behaviors, portfolio strategies, and forecasting future price movements. With my straightforward approach to simple, systematic trading, students learn how to strategically assess buy signals and market entry timing, establishment and management of stop losses, and how to employ a simple and disciplined trading approach that creates profits.

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