Bearish Bias on 1211 BYD

Good day, traders!

We're sharing an idea for $BYD COMPANY (01211.HK)$ looking for the price moving in descending trend.

And there is our logic.

1.) The price is moving below the descending trendline on the H4 since the beginning of July 2022, and the price is below ichimoku cloud.

2.) The price is currently trading at a all time low since July around the 200 levels

3.) The price may have a short term reverse and then drop to the take profit at 164 level.

4.) The take profit level is the swing low and in line with the 100% fibonacci projection

Does anyone have a similar bearish view?

Trade Entry recommendations:

Sell Entry: 211.4

Take Profit: 164.4

Stop Loss: 228

Other tickers to recommend:

For 5x Long Leverage: $BYD 5xLongSG230202 (DLCW.SG)$

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