Based off the previous trend analysis, it looks like we are below the support line of previous years. I believe it’s time for a retracement up towards its resistance so therefore, hopefully we should be expecting a new high.
BILI has had a very rough last couple of months, and has finally reached a point where long trade makes sense base on RISK/REWARD potential from current support.
It is currently at MA100*0.236 support line, as well as 0.943 Fib Support level (based on log scale).
Also Drawdown of 93% seems like an overdue to find some sort of local bottom, unless you anticipate...
Bounced well again at the trendline support ++
Needs to claim 11EMA and close above to build the energy for breakout. Ideally test of 27 and pullback should present a good pivot.
3D chart shows still more work is ahead..next ER could be turning point. All that is hypothesis until price really breaks and holds above 34.
No position yet, but price does...
Buy (Entry Price) above the black line and exit (Stop Loss) below the red line. Can take profit at the suggested Target Price.
Entry Price: $28.26
Target Price: $29.31
Stop Loss: $27.21
BILI Key levels, Analysis & Targets
Stock prices come down to test Fibo 88.7 - 94.2%
,Time frame day born " Bullish Divergences " in MACD & RSI Indicator
Wedge Breakout
Breakaway Gap
Earning 6/9/2022 Estimate -0.64
Entry 25
Stop 17
Target 45
Risk management is much more important than a good entry point.
I am not a PRO trader.
In my trading plan, the Max Risk of each short term trade should be less than 1% of an account.
Analysts' mean target price @ 58.86
1st PT: potential retest to trend line resistance (over 60% from today's price)
2nd PT: analyst's mean target price or 200 SMA (over 100% from today's price)
I keep getting guided to ask for dates... Oh, btw, I am a dowser and use a more intuitive approach to finding trade ideas in the market.
So the date I keep getting for BILI is tomorrow (12/29). I expect a pretty swift move based on the readings and get this could be a 13.5ish% move up, which would take it to $49.17 from today's lod - (atm) 43.80. Get out once it...
Even if I currently think that China stocks will have their breakout in the long term, we can at least use the opportunity to build a long position. This is also supported by the lower side of the trend channel, technical chart patterns and a sine curve.
NASDAQ:BILI
I think it will jump upward because:
It's at the bottom of a long channel (+ trend line)
Lost more than half of it's ATH
Confirmed divergence between price and {MACD histogram + Momentum}
MACD turned positive.
Price targets: 100, 125
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