Update on Geely
Hey guys, Here's an update from my last post on $GEELY AUTO(00175.HK$ . let me know what ya'll think!
Personally I still think its a buy but only now at a better price now. With price expected to bounce off the support of the stochastics support, I'm still thinking to buy at 24.83 where the ichimoku support and graphical horizontal support is, to 27.5 in line with the horizontal swing high resistance and 78.6% Fibonacci retracement. My stop loss will be at 23.8 area where the 61.8% Fibonacci retracement is, making this a really good risk to reward trade if it plays out.
Entry:24.83![]()
Take Profit: 27.5![]()
Stop Loss:23.8![]()
$Geely 5xShortSG231214(DCDW.SG$
$Geely 5xLongSG220621(DDHW.SG$
Personally I still think its a buy but only now at a better price now. With price expected to bounce off the support of the stochastics support, I'm still thinking to buy at 24.83 where the ichimoku support and graphical horizontal support is, to 27.5 in line with the horizontal swing high resistance and 78.6% Fibonacci retracement. My stop loss will be at 23.8 area where the 61.8% Fibonacci retracement is, making this a really good risk to reward trade if it plays out.
Entry:24.83
Take Profit: 27.5
Stop Loss:23.8
$Geely 5xShortSG231214(DCDW.SG$
$Geely 5xLongSG220621(DDHW.SG$
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chanliu1983 : for a longer term, yes, but short term, do not know