BYD stock: Should be 26.78!

Analysts are of the opinion that the true value of shares of the Chinese technology group BYD is much higher than it is currently reflected in the stock market. Despite this assessment, Share in BYD Last Friday was not convincing and recorded a slight minus of 0.1%. This development once again confirms that the stock is currently underperforming. According to chart experts, the prices are still below the important threshold of 25 euros, which is seen as an indication of a nervous market situation. Particular attention is paid to the next extraordinary general meeting on April 19, where investors expect to give a significant impetus to the stock. Although BYD has recently made positive comments, the markets do not seem to be responding.

sales more than 20 percent are expected

BYD stock chart

The target is BYD’s forecast, according to which the company expects sales growth of 20 percent for this fiscal year. Analysts see this increase in forecasts as a catalyst for higher sales. Sales forecasts for this year are in the range of 95 to 96 billion euros. These numbers would represent a significant increase over last year, with revenues expected to grow by more than 25 percent.

However, this positive development has not yet been properly rewarded in the stock market. Chart analysts say that the share must not only overcome the important psychological mark of 25 euros, but also a technical barrier in the form of the 200-day line at 26.78 euros. This threshold is of great importance for determining long-term trend changes. Technical analysts believe that the stock is too weak to break through these key levels at this stage.