Thoughts on BYD: a possible sell opportunity
Good day traders!
And here is why:
1.) The price has been in a descending trend and below ichimoku cloud
2) The price is showing a pullback trend, we expect to sell at 202, where is the overlap resistance
3) The price may drop to the swing low at 164, which is in line with the 78.6% fibonacci projection.
Does anyone have a similar bearish view?
Trade Entry recommendations:
Buy Entry: 202.2
Take Profit: 164.2
Stop Loss: 224.6
Other tickers to recommend:
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RDK79 : BA is down and news on aircraft orders continues to get better. Definitely Long on BA.