Hello Traders, BYD is on path with my forecast. The stock has declined to new lows, and this down-sequence isn't done yet! On Friday, wave ((3)) has finished @ HK$ 224.60, and wave ((4)) should start. A target area for this scenario is at or around the HK$ 250 levels. If Friday's low was not the end of waves((3)), (may a wave 3 of one lower degree has ended), the stock will stay right on his path for lower price in the coming week. But keep in mind! As steeper the correcting moves, the less the probability for the count is given! BYD has to charge his battery for a new impulse! Have a great Sunday..... Ruebennase
Feel free to ask or comment! Trading this analysis is at your own risk!
@puzzledExpert60366, Hi @puzzledExpert60366, thx for your question. BYD (Ticker: 1211) has created a "Morning Star" pattern @ HKEX! This is a very strong buy-signal. You can enter the stock @ Monday's opening with a Stop-loss @ 214 (the low of the middle candle (the Star) and take a target at 280 area. `Here, at latest if so to come, SL should be at Entry level! If you are an investor, buy and hold the stock which is very interesting on a long path and follow Warren Buffett! Fingers crossed! Ruebennase