BYD overbought based on Technical Analysis Charts indicating bearish trend

$BYD COMPANY(01211.HK)$ According to PSY or Psychological Indicator and OSC Oscillator Indicator, BYD is rated overbought and severely overbought respectively.

PSY with 75 or more is an overbought area; below 25 is an oversold area. When the PSY is higher than 92.31 (a continuous rise for 12 days), it indicates that investors are too optimistic and suggests an overbought condition, which is a sell signal.

When the 10-day OSC is below 100, the market trends downward. It is more advantageous for investors to wait and see or make margin trading for short; when the OSC falls below 80, it is an oversold condition.

Stock Performance

Based on Financial Times, as of last trade BYD Co Ltd (1211:HKG) traded at 241.60, -13.90% below its 52-week high of 280.60, set on Aug 01, 2023. Market Watch reported share price down 2.10% last 5 days despite the better than expected Q3 earnings report few days ago.

BYD overbought based on Technical Analysis Charts indicating bearish trend

Source: Moomoo app

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ZnWC

I reflected trading experiences by writing journals. My comments are for educational purposes not financial advice.

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