BYD shares: It’s 75 billion!

BYD has been strong again. The Chinese managed to at least add a good 1% on Tuesday. This means that the stock has reached a good 24.20 euros (75 billion euros on the market) and has almost extraordinary strength. Because the head is approaching the mark of 25 euros. This is considered by observers to be an important price limit where upward and downward movements can diverge, which are designed to be longer-term.

Stock markets are currently awaiting the announced general meeting, which is scheduled for April 19. The recent announcements have not yet caused a surge of excitement in the stock market. The Chinese thought that sales could increase by 20%. In fact, it turns out that stock markets seem to be expecting this anyway. The essence of the matter may be completely different now.

BYD: Waiting for the US

The US and China seem to be fighting for their influence on the market. The discussion is disguised as a “capacity problem” or “overcapacity”. The US would like to shut down its market against perceived low-cost competition from China. That’s what it’s all about.

The BYD company will definitely be affected by this on the stock markets. In fact, the stock has not yet recovered from the pull-down that has just occurred. Success is still imminent – at least according to observers who rely on charting technology.

BYD stock chart

The stock has now at least risen above the so-called GD100. This is the 100-day moving average line, which changes daily. If the stock price is above this line, this is considered a positive sign of the medium-term trend and vice versa. GD200 for 200 days is still far from 10%. This means clearly: the stock has not yet found its way into a long-term upward trend. Analysts’ hopes are still not broken, but the recent small success does not hide this fact.