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BYD Co (1211:HK) Witnessing Signs of Strength On Friday, we observed strong buying within a wide trading range, with the stock closing near the day’s high and good volume recorded. The previous two days of selling showed relatively low volume, indicating potential supply exhaustion. The stock price is currently at a key resistance level, constrained by a downward trendline and a horizontal support-turned-resistance line. A breakout above this level could signal a potential trend reversal , with an initial technical price target of HK$300.00. The stock is outperforming the broader market, indicating strong market demand, as evidenced by our proprietary Relative Strength Indicator (RSI), which is above zero. Additionally, the volume momentum indicator (FFI) is improving, further supporting the possibility of supply exhaustion. The Stochastic indicator also continues to trend higher, reinforcing a bullish outlook. A stop-loss price is set below HK$248.40 . If the price falls below this l...
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Can I Still Buy into This China Rally? Technical Picture: KWEB ETF (CSI China Internet Sector) signals a potential bullish reversal after a period of downtrend and consolidation. The breakout (Sign of Strength) above $36.04, accompanied by strong volume (FFI), suggests further upside potential, with targets in the $51.00 zone (and possibly $67.00), supported by Beijing's series of economic stimulus measures. Technically, the upward outlook remains valid as long as the price stays above $35.87. Investor Strategy: Using a 61% stop-loss strategy, an investor could consider entering a position in KWEB. The next step would be to calculate how much risk they can tolerate if the price drops below the 61% retracement level (around $30.00), at which point the investor would exit the position, assuming a reversal in macroeconomic conditions. Disclaimers apply.
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