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BYD share: Speculation about the trend reversal – chart analysis

Despite the consolidation of the last few days, the BYD share is still well above its 200-day average, which is just below the 100 mark. The Chinese automaker’s share price started the weekend at 175.50 Hong Kong dollars. The top zone of BYD shares at the all-time high of 210/212 Hong Kong dollars is now a long way off. The company’s share price was unable to neutralize the latest slide below the 20-day line at currently 181.80 Hong Kong dollars. A rebreak attempt ended at the daily high of 181 Hong Kong dollars.

That was a missed opportunity after BYD’s share price last fell from $ 212 Hong Kong to $ 169 Hong Kong, which it hit on Wednesday. Since then the paper has stabilized. A rise back above the EMA 20 at 181.80 Hong Kong dollars and the resistance cluster with the core level in the 183.00 / 184.80 Hong Kong dollar area would have given the BYD share a strong technical perspective for the coming week in such a technical chart situation can. But that failed thoroughly – for now.

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