BYD Looks Very Good as It Is a Very Good Company. But the Share Price is Near Resistance
If you are a long term investor that is holding until retirement then I would definitely never sell. But I would be somewhat cautious if I was holding some options or warrants that will be expiring very soon. I am saying this because currently BYD is near a short term and a longer term trending resistance level. This is an area to watch for a potential reversal or a break out to the upside. Check it out in the charts below.
If we do not see a break out above these resistance levels seen above. Then we might see a consolidation near these high levels. Or a possible rejection of this high and a fall back down to the very short term support seen in the above chart. BYD has been very strong recently with the rest of the Hang Seng so there is always a possibility that there could be a break out to the upside potentialy.
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SpyderCallOP : @102640653
102640653 : Thanks
Chris I : Any relation with nio?
102640653 : What u think of hongkong index now
102640653 : How u see
whqqq : nice time to invest?
SpyderCallOP whqqq: i would wait for a breakout to the upside of the resistance before buying in. But if BYD dips lower with the markets then there will definitely be a better buying opportunity in the future for the long term holders
SpyderCallOP whqqq:
SpyderCallOP whqqq: i highlighted the resistance levels to watch for the breakout. But the trend is showing that there should be some red days soon. so you may get a better price soon. Just wait to see if BYD rejects resistance or climbs above it. then we will decide what to do
我是百万富翁 SpyderCallOP: There was a high correction in the index yesterday, and today's trend seems to be in the grave. If the price continues to fall, it must be a signal of escape from the top. I'll run away first,.
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