CFD Trading – Sell BYD Company (1211.HKE) at $178.00. Stop at $206.00 and Target at $143.50.

BYD COMPANY   Stock Code 1211.HKE

Price could be forming a potential Double Top chart pattern, which is one of the reversal patterns. There is a potential divergence warning that warned of a top as well. It is now moving lower and we are likely to see price heading towards the cloud support, which is also the Fibonacci 50% correction point of Aug-Nov 20’s rally, if price further violates the Base line support. The MACD is still bullish now but there is a bearish crossover.

$178.00              Sell
$143.50              Price Target
$206.00             Risk Management Stop
1 week                Trade Duration

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