Pinduoduo Inc. (PDD) remained on modest and cautious gains in recent intraday trading, as the stock attempts to recover part of its previous losses. However, negative pressure continues to weigh on price action due to its trading below the 50-day Simple Moving Average (SMA), reinforcing the strength and stability of the primary short-term bearish trend. The stock also continues to move alongside a descending trendline that supports the current downtrend. At the same time, it is attempting to work off its oversold conditions on momentum indicators.

Therefore, our outlook remains bearish for the stock's upcoming trading sessions, with the stock expected to retest the $71.95 support level. A break below that level would strengthen the likelihood of an extension of the current downward move.

Today's price forecast: Bearish.