Any thoughts on buying Geely?
Hey guys! Please comment your thoughts on $GEELY AUTO(00175.HK$
I’m looking to get in at 24.8 which to me is a strong support area. It’s where the support of the ichimoku cloud, 38.2% Fibonacci retracement level and horizontal overlap support all lines up. Will buy up to 28.05 where the 50% fibonacci retracement is and have my stop loss at 23.30 close to the 61.8% fibonacci retracement. I feel that it wont even get close to the stop Loss area. This set up has a good risk to reward at 1:2.
Entry: 24.8![]()
Take Profit: 28.05![]()
Stop Loss: 23.30![]()
$Geely 5xLongSG220621(DDHW.SG$
$Geely 5xShortSG231214(DCDW.SG$
I’m looking to get in at 24.8 which to me is a strong support area. It’s where the support of the ichimoku cloud, 38.2% Fibonacci retracement level and horizontal overlap support all lines up. Will buy up to 28.05 where the 50% fibonacci retracement is and have my stop loss at 23.30 close to the 61.8% fibonacci retracement. I feel that it wont even get close to the stop Loss area. This set up has a good risk to reward at 1:2.
Entry: 24.8
Take Profit: 28.05
Stop Loss: 23.30
$Geely 5xLongSG220621(DDHW.SG$
$Geely 5xShortSG231214(DCDW.SG$
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Billylouu : if purely based on ichimoku, i am not too convinced the price is moving up soon as the price is supposed to break the green cloud and move lower for a red cloud to appear before moving cross the red with rally. However, the weekly and monthly trend still looks good. Could afford to wait out while it consolidates more i think. Just my 2 cents.![[undefined]](https://static.moomoo.com/nnq/emoji/static/image/default/default-black.png?imageMogr2/thumbnail/36x36 "undefined")
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