JD Shares Slide 3.01% Amid Bearish Technicals With Key Support At $32.13

JD declined 3.01% in the most recent trading session, closing at $32.22 on elevated volume of 11.08 million shares. This drop occurred within a broader technical context that warrants multi-faceted analysis.
Candlestick Theory
Recent sessions show bearish momentum intensifying, with the July 29 candle closing near its low after piercing the July 15 swing low of $32.13. This establishes $32.13 as immediate support. Resistance is evident near $33.47–$33.93 (July 21–24 closes), where multiple failed recovery attempts culminated in lower highs. A three-black-crows pattern formed from July 24–29, signaling sustained selling pressure.
Moving Average Theory
The 50-day and 100-day moving averages have converged near $34.20, creating a resistance ceiling that rejected price advances in late July. The 200-day MA ($36.50) maintains a downward slope, confirming the primary downtrend. Crucially, the 50-day MA crossed below the 200-day MA (Death Cross) in May, reinforcing bearish structural bias. Current trading below all key MAs underscores sustained weakness.
MACD & KDJ Indicators
MACD histogram bars remain negative, with the signal line entrenched below zero since early July – confirming bearish momentum. KDJ exhibits divergence: while price made lower lows in late July, the K-line (currently 25) and D-line (30) formed higher lows, suggesting waning downside momentum. This divergence may precede short-term consolidation, though both oscillators remain in bearish territory.
Bollinger Bands
July’s volatility contraction saw bands narrow to a 6-month tightest range, with price oscillating near the lower band. The July 29 breakdown breached the lower band ($32.50), signaling an oversold extension. Such breaks often prompt mean-reversion bounces toward the $33.50 mid-band, though sustained lower-band hugging favors further downside.
Volume-Price Relationship
The July 29 sell-off occurred on the highest volume in three weeks, validating bearish conviction. Conversely, July 18’s 3.76% rally saw volume nearly double the 30-day average, suggesting transient buying exhaustion. Declining volume during minor rebounds (e.g., July 22–23) underscores weak demand. This volume profile supports continuation of the downtrend.
Relative Strength Index (RSI)
RSI(14) sits at 31, nearing oversold territory but not yet extreme. While sub-30 readings could trigger technical bounces, RSI has consistently failed to breach 55 during 2025 rallies – confirming bear market dynamics. Notably, RSI divergence is absent; both price and RSI made lower lows in July, aligning with bearish momentum.
Fibonacci Retracement
Using the April 3 high ($40.26) and September 2024 low ($25.33), key Fibonacci levels emerge. The 61.8% retracement ($30.50) provided support in May–June 2025, while the 50% level ($32.80) capped July recovery attempts. The recent breakdown below $32.80 opens a path toward the 78.6% retracement at $28.30, with minor support at $31.00 (psych level and June low).
Confluence & Conclusions
Multiple indicators converge around $32.80–$33.50 as critical resistance, reinforced by moving averages, Fibonacci levels, and volume patterns. While KDJ divergence and Bollinger Band oversold conditions hint at near-term consolidation risk, the MACD trend, RSI structure, and volume-backed breakdown suggest dominant bearish control. A sustained close below $32.13 would likely accelerate losses toward the $28.30 Fibonacci target. Upside potential appears limited absent reconquest of the 50-day MA ($34.20).