BYD....Don`t panic! The situation is under control!
Hello Traders,
yesterday, BYD dropped nearly 10 % at Exchange in Hong Kong.
It was a bit misty what was the cause. So, 225 Million stocks of BYD were listed at the clearing book in Hong Kong. This number is exactly the size, of which Buffet bought in 2008!
So, the rumors ran around, that he is likely to sell BYD stocks!
But, what reason Buffet should have to sell his stocks in BYD? In fact, the reason was, that Hong Kong exchange switched from physical stocks to electronic stocks! That's it!
Today, the stock rebound 5%!
But what does it suggest for my wave count?
One possible idea could be, that waves ((i)) and ((ii)) are done or close to be, and the next move is a rally in waves ((iii))! A break of 333 HKD opens the door to this idea.
A decline to 245.8 HKD is possible, would only retrace to the most possible level for a waves ((ii))!
So the next day's should be fascinating for BYD.
Have a great Friday.....
Ruebennase
Feel free to ask or comment!
Trading this analysis is at your own risk!
yesterday, BYD dropped nearly 10 % at Exchange in Hong Kong.
It was a bit misty what was the cause. So, 225 Million stocks of BYD were listed at the clearing book in Hong Kong. This number is exactly the size, of which Buffet bought in 2008!
So, the rumors ran around, that he is likely to sell BYD stocks!
But, what reason Buffet should have to sell his stocks in BYD? In fact, the reason was, that Hong Kong exchange switched from physical stocks to electronic stocks! That's it!
Today, the stock rebound 5%!
But what does it suggest for my wave count?
One possible idea could be, that waves ((i)) and ((ii)) are done or close to be, and the next move is a rally in waves ((iii))! A break of 333 HKD opens the door to this idea.
A decline to 245.8 HKD is possible, would only retrace to the most possible level for a waves ((ii))!
So the next day's should be fascinating for BYD.
Have a great Friday.....
Ruebennase
Feel free to ask or comment!
Trading this analysis is at your own risk!