Thoughts on BYD?
Hi fellow investors! I have an excellent setup here $BYD COMPANY(01211)$
On the H4, with price breaking out of the ascending trendline and moving below the ichimoku indicator, we have a bearish bias that price will drop to sell entry at 244.4 where the 50% fibonacci retracement, 61.8% fibonacci projection, -27.2% fibonacci expansion and pullback support are. Should price break entry structure, we would expect bearish momentum to carry price to take profit at 204.4 where the swing low support, 78.6% fibonacci retracement and 78.6% fibonacci projection are. Alternatively, price could rise to stop loss at 287.2 where the pullback resistance is.
Entry: 244.4 [Smile]
Take Profit: 204.4 [Miser]
Stop Loss: 287.2 [Cry]
$BYD 5xShortSG230202(DZWW.SI)$
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
Like