Tag: BYD Company

BYD COMPANY   Stock Code 1211.HKE

Outlook

Price broke and closed above its recent price high, forming a higher high and higher low price pattern, which is the characteristics of an uptrend. Price also broke above a small Ichimoku V-shaped structure, hinting at a trend reversal. Conversion and Base lines remain in a bullish crossover. MACD has a bullish crossover and is moving higher, suggesting increased upward momentum. The overhead cloud resistance is relatively thin. We are likely to see price penetrating above the cloud to move higher to HK$272.03.

Strategy

$243.60              Buy

$271.00              Price Target

$222.30              Risk Management Stop

2 weeks             Trade Duration

BYD Company Stock Code 1211.HKE

Outlook

The price correction was supported by the cloud and managed to hold above the cloud, keeping the bullish trend intact.  The price correction could have been completed and a rally could be about to resume to test the previous high of $319.32. The lagging span is below price of 26 days ago but is above the cloud. MACD remains bullish and could be turning around just below the zero line. We think price is likely to move higher to the previous high at $319.32 in the next 2-3 weeks.

Strategy                  

$288.50              Buy

$319.00              Price Target

$278.50              Risk Management Stop

3 weeks              Trade Duration

BYD COMPANY Stock Code 1211.HKE

Outlook
The bullish trend remains intact as price is still trading above the cloud. The recent price decline was halted at the Base line support, which is also the gap support zone. There was still a bullish Conversion and Base lines crossover that hints for potential upside ahead. Lagging Span is above price of 26 days ago and above the cloud, confirming the bullish trend. The MACD is strong and bullish. We are likely to see price resuming its upward momentum to move higher.

Strategy
$267.70 Buy
$341.40 Price Target
$242.00 Risk Management Stop
2 weeks Trade Duration

BYD COMPANY   Stock Code 1211.HKE

Outlook

Price rebounded after being supported by the cloud, keeping the bullish trend intact. Both the Conversion and Base lines are moving higher, suggesting more upside ahead. Lagging Span is above price of 26 days ago and above the cloud, confirming the bullish trend. The MACD is bullish and is moving higher after having a bullish crossover. Price gapped up yesterday, hinting at the strong upward strength. We are likely to see price continuing its upward momentum to move higher.

Strategy                  

$258.20              Buy

$298.20              Price Target

$238.00              Risk Management Stop

2 weeks              Trade Duration

BYD COMPANY   Stock Code 1211.HKE

Outlook
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.

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