Wuxi Biologics (2269): Incredible long-term opportunity!
Wuxi Biologics (2269):
2269
Wuxi Biologics, a Chinese biotech research company listed on the Hong Kong Stock Exchange, presents a complex investment scenario. It's crucial to note we're dealing with the Hong Kong Dollar, not the US dollar. The comprehensive analysis on the weekly chart suggests that since June 2021, the company has been undergoing a correction defense scenario. This downturn has been so pronounced that the stock might need to reach its origin point at 8.56 HKD to complete the correction cycle of Wave 2 through Wave (Y) in blue. This process is expected to involve an initial surge followed by a downturn.
While there's potential for early position building, the decision to do so carries its uncertainties, given regulatory concerns and the stock's unpredictable future. Our strategy is to remain patient, observing how events unfold. Even with a 30% stop-loss threshold, which practically doesn't apply given the upside, we anticipate a minimum 2600% movement for Wave III in red, with the potential to reach an extraordinary 6000% at maximum. Such figures outline the vast upward trajectory expected, not just through Wave 3 but also with an ensuing Wave V.
Therefore, we are comfortable waiting and watching for the right entry point. Even if we decide to enter the market at a later stage, we expect that Wuxi Biologics will still offer significant opportunities.
2269
Wuxi Biologics, a Chinese biotech research company listed on the Hong Kong Stock Exchange, presents a complex investment scenario. It's crucial to note we're dealing with the Hong Kong Dollar, not the US dollar. The comprehensive analysis on the weekly chart suggests that since June 2021, the company has been undergoing a correction defense scenario. This downturn has been so pronounced that the stock might need to reach its origin point at 8.56 HKD to complete the correction cycle of Wave 2 through Wave (Y) in blue. This process is expected to involve an initial surge followed by a downturn.
While there's potential for early position building, the decision to do so carries its uncertainties, given regulatory concerns and the stock's unpredictable future. Our strategy is to remain patient, observing how events unfold. Even with a 30% stop-loss threshold, which practically doesn't apply given the upside, we anticipate a minimum 2600% movement for Wave III in red, with the potential to reach an extraordinary 6000% at maximum. Such figures outline the vast upward trajectory expected, not just through Wave 3 but also with an ensuing Wave V.
Therefore, we are comfortable waiting and watching for the right entry point. Even if we decide to enter the market at a later stage, we expect that Wuxi Biologics will still offer significant opportunities.
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Discord - discord.gg/ftPWbe8MJy
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✅ Limit Orders, SLs, TPs
✅ Trading Community
✅ Unlimited Chart Requests in Discord
Discord - discord.gg/ftPWbe8MJy
Telegram - t.me/+U7KhRNv61XczZmQ0
A brief update on Wuxi Biologics: we acknowledge that the movement here appears relatively slow, "so to speak." There's still a lot of room to move downward. However, we want to provide an update because, since our first and last analysis, we've seen a 20% drop, which occurred in just under a month. This highlights the importance of not always rushing to enter a position but waiting instead, as we've significantly dropped below the Wave 3 we had anticipated. Whether this truly represents Wave 3 remains to be seen, and we continue to monitor. Nevertheless, we believe it's critical not to fall far below the $8.56 level, the 100% level, as there's potential for a double bottom. If this level is breached, it would indicate a bearish trend.