JD Stock Rises 3.13% Amid Bullish Technical Signals But Faces Key Resistance at $34.45

JD (JD) gained 3.13% to close at $32.58 on June 24, 2025, marking its second consecutive positive session with a cumulative gain of 3.63% over two days. This uptick follows recent volatility, warranting a multi-faceted technical assessment of its price trajectory.
Candlestick Theory
Recent candlestick patterns reveal a potential bullish reversal signal. The June 23 session formed a Doji (open: $31.59, close: $31.59) after a sharp decline on June 20 (long red candle closing at $31.44). This was followed by a decisive white candle on June 24, engulfing the prior two sessions' range and closing near the high of $32.58. The $31.27–$31.60 zone now establishes critical support, while resistance looms near $33.17–$33.90 (June 16–17 highs). The sequence suggests exhaustion of selling pressure, though confirmation requires sustained closes above $33.
Moving Average Theory
The 50-day MA ($35.20 approx.) and 100-day MA ($36.50 approx.) hover above the current price ($32.58), maintaining a bearish intermediate-term bias. Crucially, the 50-day crossed below the 200-day MA ($34.50 approx.) in late May, signaling a "death cross" that reinforced the downtrend. The price remains below all three key MAs, indicating persistent selling pressure. A bullish reversal would necessitate reconquering the 50-day MA, though this level has rejected rallies twice in June.
MACD & KDJ Indicators
MACD (12,26,9) shows the histogram lifting from deeply negative territory, suggesting diminishing downward momentum. A bullish crossover appears nascent but unconfirmed. KDJ (9,3,3) exited oversold territory (K: <20 on June 20) as K-line (42) and D-line (38) now advance upward. This aligns with the price rebound but warrants caution; similar oversold bounces in May and April failed to sustain. Confluence exists in momentum stabilisation, though divergence remains absent.
Bollinger Bands
Bands contracted sharply in late June, with June 23’s candle touching the lower band ($31.25 approx.) before rebounding. The subsequent expansion on June 24 alongside rising price reflects renewed bullish volatility. Current trading near the middle band ($32.90 approx.) suggests neutral near-term positioning. A sustained move toward the upper band (~$34.50) would signal strengthening upside momentum, while failure to hold $32 risks retesting the lower band.
Volume-Price Relationship
Volume declined materially during the two-day rebound (8.13M and 8.53M shares vs. 16.15M on June 20’s sell-off). This divergence raises concerns about demand sustainability; rallies supported by lower volume often lack conviction. Significant volume spikes accompanied prior breakdowns (e.g., 18.27M shares on May 29’s 4.31% gain), underscoring the need for amplified volume to validate a durable reversal.
Relative Strength Index (RSI)
RSI (14-day) rebounded from oversold territory (28.6 on June 23) to 43.7 on June 24, exiting the oversold zone (<30) but remaining below neutrality (50). While this suggests moderating downside momentum, RSI’s failure to breach 50 during April-May rebounds preceded further declines. Investors should note RSI’s role as a warning, not a timing tool; oversold conditions may persist in strong downtrends.
Fibonacci Retracement
Applying Fibonnaci to the downtrend from the April 3 high ($39.90) to the June 23 low ($31.27) reveals key levels: the 23.6% retracement ($33.11) was breached on June 24, with the 38.2% level ($34.45) now acting as resistance. This zone converges with the 50-day MA ($35.20), creating a formidable technical ceiling near $34.45–$35.20. Reclaiming this area may signal a larger recovery, while rejection could renew downside toward $31.27.
Concluding Synthesis
Multiple indicators suggest a near-term technical bounce for JD is underway, driven by oversold readings (KDJ, RSI), candlestick reversal signals, and Bollinger Band support. However, critical headwinds persist: bearish moving average alignment, volume-price divergence, and Fibonacci/MA resistance near $34.45–$35.20. Confluence at this resistance band could cap upside without stronger volume participation. Investors should monitor $31.27 as pivotal support and $34.45 as a decisive resistance level; a close above $34.45 on amplified volume may signal trend reversal potential, whereas failure risks retesting June lows.