2024-07-19 08:30:00 ET
Summary
- PDD Holdings Inc. investors have found the $165 resistance level challenging to surpass.
- PDD's Temu cross-border platform is facing challenges from Amazon's potential forays.
- The company's sustainable profitability has strengthened Temu's ability to compete with Amazon.
- Recent geopolitical headwinds relating to the US's actions on China and political uncertainties have likely affected PDD.
- I argue why these developments shouldn't hamper PDD's bullish thesis, providing a solid dip-buying opportunity.
PDD Holdings ( PDD ) investors have much to consider as its buying sentiment stuttered as it faced significant resistance under the $165 level. As a result, the stock's upward momentum fizzled out as sellers took profit. That level also saw investors similarly take profit at the end of 2023 and early 2024 before it bottomed in March....
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PDD Holdings: Geopolitical Uncertainties Unveils Attractive Buy-The-Dip Opportunity