Morning Trend | PDD sees increased volume at the support line, will the trapped positions stage a breakout battle?

Yesterday, Pinduoduo (PDD.US) traded sideways with a bearish bias throughout the day, closing slightly down at the end of the session, with a sharp decrease in trading volume. The market leaders faced a rare atmosphere of wait-and-see amid the struggle between profit-taking and funds that had chased high prices earlier. At one point during the day, it touched the lower Bollinger Band, and short-term funds showed great anxiety about whether it could hold that line. There were multiple attempts to seize opportunities during the session, but overall bottom-fishing funds have yet to form a consensus. Everyone is asking whether Pinduoduo will see a short-term rebound or continue to test lower levels. Currently, the e-commerce sector is cooling down, with some mainstream funds withdrawing from high-dividend and cyclical sectors. Pinduoduo itself has stable news but lacks independent catalysts, and the pressure to unlock positions is accelerating. Many small-cycle funds have repeatedly failed in the afternoon's short-covering process, and as long as the trading volume cannot be activated, it is easy for bearish situations to further ferment. We have now entered the volume-less area where Pinduoduo often employs "extreme tug-of-war"; any slight movement in the market could amplify short-term volatility. Technically, there is currently a significant divergence between bulls and bears near the lower band, and the direction of the main funds is a key indicator. If trading volume suddenly increases today, the high-position unlocking funds may bring about severe fluctuations—conversely, if funds continue to lack follow-up, the weak range will dominate, and bears could strike at any time. Short-term operations should closely monitor fund movements during the session. Everyone is watching; Pinduoduo will either seize the opportunity for a rebound from oversold conditions or wait for the next favorable news to emerge