BYD Electric (0285.HK) – Be Cautious Ahead, Tipping Point
Poemsview: 8th Feb 2023
BYD electric (285.hK) listed on the Hong Kong stock exchange as we can see from the chart looks like its tipping over. It is currently at the 20ema, uptrend support and horizontal support level. A break of these confluence of support might see some selling in this counter. Our first downside target is $HKD24.65.
It was reached a mini double top and failed to break it which might suggest more downside to come. Furthermore if the HSI remains weak, we might really see this pullback. The upside resistance is at 28.98, breaking above this might resume its uptrend.
Kelwin & Roy