Build Your Dreams (BYD): Moving Higher!
Updated
Build Your Dreams (BYD): 
285
After closely examining the Chinese electric vehicle manufacturer BYD, we've concluded that there is a very appealing and interesting opportunity to start building positions. We are currently in an overarching Wave III. Wave II concluded at the low of 13.20 HKD, and the all-time high is currently at 63.10 HKD. We are now likely in a Wave 5, which should coincide with the completion of Wave (1). Subsequently, a deeper correction to Wave (2) is expected, where we aim to place our next long-term entries, but we also want to place a short-term entry now.
We have successfully completed Wave 4 and since developed Waves ((i)) and ((ii)). This Wave ((ii)) held precisely at the 61.8% Fibonacci retracement level at 28.19 HKD, and we should not fall below this before completing the overarching Wave 5 or Wave (1). We should also surpass the Wave 3 high of 40.40 HKD.
285 After closely examining the Chinese electric vehicle manufacturer BYD, we've concluded that there is a very appealing and interesting opportunity to start building positions. We are currently in an overarching Wave III. Wave II concluded at the low of 13.20 HKD, and the all-time high is currently at 63.10 HKD. We are now likely in a Wave 5, which should coincide with the completion of Wave (1). Subsequently, a deeper correction to Wave (2) is expected, where we aim to place our next long-term entries, but we also want to place a short-term entry now.
We have successfully completed Wave 4 and since developed Waves ((i)) and ((ii)). This Wave ((ii)) held precisely at the 61.8% Fibonacci retracement level at 28.19 HKD, and we should not fall below this before completing the overarching Wave 5 or Wave (1). We should also surpass the Wave 3 high of 40.40 HKD.
Note
After a generally positive start, we were unfortunately stopped out at BYD Electronics, but we haven't fallen so far that we can't assume this is still part of wave ((ii)). We will definitely continue to monitor this situation without considering a new entry yet. Instead, we'll wait to see how the overall market and the situation in China evolve. And then, if we observe new strength, we will place new entries within this possible wave ((iii)).
Exclusive Trading & Investing Group for Crypto & Stocks! 💎📈
Daily Stocks & Crypto Analysis | Daily Bitcoin ETF Updates | Trading Challenges & more
Join us:👇
🔗 wavemarketcapital.com/
Daily Stocks & Crypto Analysis | Daily Bitcoin ETF Updates | Trading Challenges & more
Join us:👇
🔗 wavemarketcapital.com/
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.