The Hourly View for DADA
Currently, DADA (Get Ratings)’s price is up $0.04 (0.17%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved down. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 100 hour timeframe. The moving averages on the hourly timeframe suggest a bearishness in price, as the 20, 50, 100 and 200 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend.
DADA’s Technical Outlook on the Daily Chart
At the time of this writing, DADA’s price is down $-0.59 (-2.4%) from the day prior. DADA has seen its price go down 8 out of the past 10 days, thus creating some compelling opportunities for bears. Regarding the trend, note that the strongest trend exists on the 20 day timeframe. The moving averages on the daily timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders. Dada Nexus Ltd’s price action over the past 90 days can be seen via the chart below.
For DADA News Traders
Investors and traders in DADA may be particularly interested in the following story that came out in the past day:
JD Daojia (“JDDJ”), China’s leading local on-demand retail platform of the Dada Group (Nasdaq: DADA; “Dada”), recently hosted the second annual Merchant Brand Ceremony in collaboration with the China Chain Store and Franchise Association (CCFA). Celebrating the 6th anniversary of JDDJ, the event focused on digital innovation in the retail sector with the company selecting the top Retail Digital Innovation Cases of 2020 and discussing some of the growing trends in China’s retail industry.
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The post Dada Nexus Ltd (DADA): Price Down $-0.59 (-2.4)% Over Past Day, Up $0.04 (0.17)% Over Past Hour appeared first on ETF Daily News.
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