JD.Com Inc

JD is entrenched in a Stage 4 decline following a decisive support failure and remains below all key EMAs. Medium-term bias is firmly bearish, and short-term momentum confirms further downside. Optimal engagement is to sell now into any relief rallies toward the broken support-turned-resistance zone.

• ↑Q2 revenue rose 22% YoY to RMB357 b, led by electronics.
• ↑General merchandise revenue grew 19% in Q3 on brand partnerships.
• ↓Net profit margin fell to 2.1% amid investments in new ventures.