Massive price gains for the BYD share at the start of the week: On the Hong Kong stock exchange, the share price of the Chinese automobile and battery manufacturer is jumping double-digit percentage today. The BYD share price is currently quoted at 206.20 Hong Kong dollars, the daily high is quoted at 207 Hong Kong dollars. With this, the stock is leaving the latest consolidation movement with a bang and is back at its all-time high, the top zone is 210/212 Hong Kong dollars.
At the weekend, we had already pointed out the bullish chances of the BYD share that still existed, although the electric car stock appeared to be technically burdened by a false breakout on Friday. For this bullish scenario, “BYD’s share price would have to step on the gas on Monday and catapult automotive shares towards the technical chart resistance levels between 189.40 / 189.90 Hong Kong dollars and 193 Hong Kong dollars – and in the short term beyond,” it said on Sunday in the chart check. The title did a great job of that.