While the stock exchanges are shaking and fears of the consequences of the new lockdown measures against the corona pandemic are spreading, BYD shares run from all-time high to all-time high. Even today – it might sound a little crazy. The old top at 150 Hong Kong dollars, reached yesterday, will be pulverized and replaced by the new all-time high at 164 Hong Kong dollars. Meanwhile, however, some investors have taken profits, BYD’s share has fallen to 157.60 Hong Kong dollars and is still more than 5 percent up on the previous day.
In terms of the chart, everything remains as usual for the BYD share: The rally movement is unbroken and dominant, the dangers of a significant consolidation remain, but so far, apart from mini movements such as recently, from 143.50 Hong Kong dollars to 124.10 Hong Kong Dollar not yet unfolded. For comparison: the BYD share’s corona crash low is 33.50 Hong Kong dollars, it is the starting point of the month-long bull market and price increase at the Chinese group.
In terms of charting, there is not much else left than to let the trend run and to constantly follow stops for long positions. It remains to be seen when the BYD share will “catch” it. The 143.50 / 147.00 Hong Kong dollar range can be considered the first support range, other brands are around 138.60 / 140.00 Hong Kong dollars, as well as 129/131 Hong Kong dollars and 124.10 / 124.80 Hong Kong- Dollars to find. Below that, the supports at the known zone between 117 Hong Kong dollars and 118.00 / 119.50 Hong Kong dollars would come into play.