Potential for dip
Hey guys! Anyone eyeing on $BYD COMPANY (01211.HK)$ ? Prices abiding by a descending trendline and are on bearish momentum. We see the potential for dip from our sell entry at 227.4 which is a graphical overlap. Probably going to short to our Take Profit at 203.6 in line with 38.2% Fibonacci retracement. I'll have my stop loss potentially at 232.8 in line with 78.6% Fibonacci projection. Prices are trading below the ichimoku clouds, further supporting our bearish bias.
Entry: 227.4
Take Profit: 203.6
Stop Loss: 232.8
What do yáll think?
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