JD.com $JD has been bearish throughout the year after it started 2018 with a push to $50.65. In November and December, price came down to a new all-time-low around $19.20. Everything points lower, except for the past month of price action, which suggests JD has some upside at least in the short-term. JD Daily Chart(click to enlarge)Double Bottom Scenario:- On the 4H chart above, we can see JD failing to push below $19.20 once in November and again in December, effectively creating a double bottom scenario. - A break above $23.35 could open up the $25.75-$26 area. - The resistance above is a support/resistance pivot and where the 200-period simple moving average (SMA) resides in the 4H chart.- Furthermore, the RSI should push above at least 60, and likely above 70 in this bullish reversal attempt.- It is too early to say whether a bullish breakout will sustain and extend into a bullish trend.- For now, we can anticipate some bullish correction against the prevailing downtrend and no more. Key Support:- On the weekly chart, we can see that price is right on top of a previously key support around $19.50-$20. - While price did break into new lows, it still stuck around $20 in December.- For now, the upside should be limited to $25.75-$26. - If we can more evidence of a price bottom, we can expect more upside, but still should limit it to the $30 area until the general equities market becomes bullish.JD Weekly Chart(click to enlarge)