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BY6 trade ideas

Eyeing up BYD againOne of my favourite stocks, BYD, has corrected quite sharply due to a pullback in China stocks due to stimulus ending - over 40% from the top. I believe we are forming at least an interim bottom and now's a good time to add to the position. BYD is a profitable electric car company with huge potential which is still valued far less than the likes of TESLA. It should continue to ride the EV wave as soon as the correction in Chinese stocks are finished. Unless of course, the wider market experiences a correction.
HKEX:1211Long
by idontknowwhat
$BYDDY The Real $TSLA Competitor... Remains Overlooked.BYDDY BYDDY Continues to be overlooked in the United States. I originally provided information about BYD June 29th when the price was approx $15. Still a solid time to enter even now, Just need to find the entry point/ It usually follows the 50EMA, seems kind of over-extended right now, it should drop back to $38-$39. Accounted for over 15% of all BEV's IN China last year... That means something. The wide range of Fully Electric Vehicles: -Buses -Semi Trucks -Coupe Cars -Construction Equipment Major Competitor with NASDAQ:TSLA ,
OTC:BYDDYLong
by AlexCutler247
2
BYD.....The trend is your friend!Hello Traders, BYD, the Chines EV-carmaker has risen (once more) to a new ATH at HK$ 164.- this morning. My price target called out at my latter analysis at HK$ 170 is close to be reached. The move from the lows at HK$33.60 on March 23 is developing in a „base-channel“ (blue channel lines). The breakout of this channel, on July 3, gives more confidence that a wave 3 (alt: wave1 of one lesser degree) was underway and the corrective pullback to the level at HK$ 68.80 indicates that a wave 4 (wave 2 of one lesser degree) was done. After that correction, the stock has risen to the levels now. Note how the move is advancing to the upper boundary of the trend channel (grey) and it makes it possible that the rise should come to an end. Maybe by extending above the upper line and creating a „throw-over“ or touching and reversing this line. If a „throw-over „ is underway, price will exceed above the area of the upper line (at HK$170-180), more bullish potential exists! A „throw-over is complete if prices „travel back“ below the upper line of the channel. So I will monitor this stock closely and update the chart in the coming days ahead. Have a great week.... ruebennase Feel free to ask or comment! Trading this analysis is at your own risk. The editor is invested to this stock!
HKEX:1211
by ruebennase
BYD.....New ATH! Next target at HK$170?Hello Traders, my latter analysis for BYD was so to read: „BYD, the Chinese carmaker has risen to new ATH`s this morning. It closed trading at HK$13.45 and gapped above the former resistance level of HK$ 129.8.“ Today, BYD, the Chinese EV maker set the next All-time-high at HK$ 145.60 on a closing and intraday basis. Orders for the companies best selling car, the model „HAN“ are rising exorbitant and make it possible, that the stock has more room to go and extend his advance. At the chart is to observe, that BYD is rising within a trend channel and it could be, that price will extend to the upper boundary of the Elliott-trend channel. A possible target area for the end of wave 1 or a is at the upper boundary at ~HK$170, depending on when and if it will be reached! On the long-term view, the stock is strongly bullish. Short term traders who want to jump in still wait for a corrective setback. Overall to speak it is possible, that the advance from the March 2020 lows is a wave 1 or A. So, once the rise is done, a corrective setback should be next to come. But for this scenario, we have no arguments, no facts yet. Have a great week.... ruebennase Feel free to ask or comment! Trading this analysis is at your own risk! The editor is still invested at the share!
HKEX:1211
by ruebennase
BYD....New ATH! And now?Hello Traders, BYD, the Chinese carmaker has risen to new ATH`s this morning. It closed trading at HK$13.45 and gapped above the former resistance level of HK$ 129.8. I have labeled the chart as an impulsive move that is close to an end or it will subdivide into a series of „ones and two`s“! Using the RSI indicator to check the technical structure, there is to observe at today`s high that the high for RSI was at HK$ 90 (RSI at 91.84). Today`s higher price level was accompanied by a lower level for RSI (at 74.33) indicting a wave 5 to be done or close to do so. But therefore we have no clear pattern yet. So, if you are still invested, let profits running, lay back, and relax. As long as BYD is trading above HK$100 the focus should be to the upside. Any setback should be with corrective character and the stock has much room to go! Have a great week..... ruebennase..... Feel free to ask or comment! Trading this analysis is at your own risk! The author is invested in this stock!
HKEX:1211
by ruebennase
2
BYD.....Advancing higher in a corrective modeHello Traders, BYD made a low on the week of March 23 in 2020 @ 33.5 and advanced strongly since. This low could be a wave „((X))“ with a wave „((Y))“ to follow. Why do I think that? Well, the first leg of advance, starting end of September 2005 is clearly a „three-up“! This indicates a „corrective“ advance as I mentioned before. The move that developed from the wave ((W)) high to the wave ((X)) low has the shape of a wedge. Price broke out above the area of ~90 HK$ at the latter week, indicating more buying pressure to come. But notice, on the weekly also to observe is the clear „five-up“ which indicates an end of the first impulse to the upside. So a starting correction should not surprise traders in the short term. With RSI in strong overbought areas (above 80 levels) this scenario could be the next to expect! If this would be the case, a corrective price target should be at or around the 68 HK$ areas, where a wave 4 of lesser degree was done. On the other hand. While BYD was rising into never seen territory it could be that the running advance will last longer and extend well into the next weeks. I will update the chart if the pattern becomes clearer. Have a great weekend.... ruebennase Feel free to asko r cemment! Trading this analysis is at your own risk!
HKEX:1211
by ruebennase
1