JD.COM INC. ADS - JD.Com, Inc. (symbol ‘JD’) - 02/28/2024 (GMT)

Shares of JD.com, Inc. (symbol ‘JD’)  managed to close the last quarter of the year on a neutral balance after some pretty volatile months. The company’s earnings report for the quarter ending December 2023 is expected to be released on Wednesday 6th of March before the market opens. The consensus EPS is $0.56 against $0.54 in the same quarter last year.

‘ The company has a streak of 5 consecutive months of increased net income and is on the move for a sixth. The current ratio is above 130% showing that there is the ability to withstand any short-term financial difficulties. In comparison, the dividend yield is more than 2.50% which is making the company a quite attractive addition to long-term investors portfolios.‘ said Antreas Themistokleous, trading specialist at Exness. From the technical analysis perspective, the price is trading near the technical resistance area of the 38.2% Fibonacci retracement level. If it manages to break above this area then the short-term resistance might be seen around the $24.50 price level which consists of the 50-day moving average and the upper band of the Bollinger bands. 
However, this might be a short-lived projection since the Stochastic oscillator is approaching extreme overbought levels and the 50-day moving average is still trading below the 100-day moving average indicating that the valid trend is still bearish and therefore the medium-term outlook might also be bearish.