BYD after the price slide – that’s the situation now

BYD after the price slide – that’s the situation now


Warren Buffett’s stock sales have recently added to BYD stock accordingly. He is very well now. As a result of the new situation of the optimistic analyst, it even managed to jump in price at the same time. Can the part be given out completely?

In late August and early September, BYD’s stock took a hit. it slipped below the HKD 275 support zone on the news of Warren Buffett’s selloff. Even the 200-day moving average of 264 HKD failed to provide support during the decline.

Only in the support zone, which spans between 207 and 210 HKD, did the value stabilize. At the same time there was a rebound near the peak of the volume at 235 HKD.

At the same time, the title has lost momentum again and left many price gains. But the movement’s chances of further recovery are good. The stock is still oversold. The support area just mentioned protects the bottom. As long as these levels can be defended, an attack against the next horizontal thresholds at 243 HKD, above the 200-day moving average of 259 HKD, should be expected in the next few weeks.

Chart from tradingview.com

BYD to HKD

Basically, everything is fine in BYD. From a technical perspective, the stock looks like it has recovered to HK$215. The next target is horizontal at 243 HKD and the 200 day moving average. Investors do not leave a piece.

Profit is always possible – it just depends on the right time to enter and the right strategy. The chart method can provide well-founded indications for better input. Technical analyst Timo Nützel publishes a new edition of “Charttechniker” several times a week. By subscribing to our free newsletter, you will be notified as soon as a new report with the next recommendation is available. Register here now.