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JD Support Level Holds Despite Walmart FUD

JD experienced a selloff during post-market hours due to news that Walmart is selling its entire $145 M JD position. The price managed to hold above a $25.63 support level, but JD also has resistance around $29.72. I think there will be some sideways price movement between $25.63 and the red trendline until JD finds a direction. JD is trading near all time lows, but this Walmart news is a bad sign for the company’s future.

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