The bears have now pushed Geely stock back below its March low. This confirms our primary scenario that the stock is in the final phase of the overarching gray wave II from the high of the magenta wave (B). This move should now be advanced to the green target zone between HK$7.80 and HK$4.12. With the low placed, the price should then move significantly higher.
Geely (175.HK) has great chance to rebound. It shows strong support at the resistance level of 16.5. The impact of Nancy Pelosi visit to Taiwan is expected to be short-lived in Hong Kong market. We expect the acquisition of Meizu, a popular mobile brand by the parent of Geely will contribute to Geely automobile business. Reiterate with BUY.
SNIPER STRATEGY
This magical strategy works like a clock on almost any charts
Although I have to say it can’t predict pullbacks, so I do not suggest this strategy for leverage trading.
It will not give you the whole wave like any other strategy out there but it will give you huge part of the wave.
The best timeframe for this strategy is Daily, Weekly and Monthly...
If Geely Auto closes above 29.65HKD in the next week, the cup would be completed with Henkel and would have Short-Term to Medium-Term a price target of 38.45 / 44.80 / 49.30 / 57.90 HKD
Over the long term (1-5 years), a price increase of up to 581.90HKD to 1493.90HKD would be possible.
The Geely Holdings has a joint venture with Daimler
DE
Wenn Geely Auto...
The bounce from the recent low is rather fast, expect a slight pullback to form a cup and handle before breaking out to new high.
I took off some positions at 27, hopefully can get it back around 25.
long on 2 entries
1) 23.50 and below
2) 21.57 and below
uptrend on track
confluence form strong support
MA20 - 23.70
support line - 23.50
Short term uptrend line - 22.90
Prices are facing bearish pressure from our resistance in line with our fibonacci confluence levels where we could see a further drop below this level. Ichimoku cloud are showing signs of bearish pressure as well.
Please spend a minute or two and join me to pray for the family of Mr Wang Long. Read his story here
There are many compartments of our lives, depending on which stage we are in.
We have
Family
Health & wellness
Career
Hobbies/Interests
Spiritual
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The above is just a rough guide and you can slice and dice the way you want to run your...
An unknown friend asked me to put a chart on 'GEELY AUTO'
I can read any chart using NEO wave technique and able to plot the next move with timing.
Most important is I refuse to use any indicators rather HATE all kind of nonsense which will not give you any FORECAST.
ENJOY trade well
SELVAM.B.
Engineer ,,Trader,,,Analyst
