Yearly trend up was broken with BOS
Last half year trend going down with LH/LL
Current stage R 61 and S 52. Break and confirmation of any will lead to further move down either up.
Volume concentration with POC far away at 67. Yearly Volume control lost.
Two year volume control lost.
* Great earnings
* Strong up trend
* High relative strength in the Consumer Cyclical sector
* Recently broke above a multi-year base at $50.32
* Has been basing ~8 months
* Forming a tight consolidation at the right side of the base
* Breaking out with higher than average volume
* Maximum probable ROI on this trade would be ~29%
Trade Idea:
* Now's the right...
I like how this is playing out.
Inside an ascending channel.
From here, if the support holds (rectangle area) we might see another leg to the upside to test top of the channel.
If the support doesnt hold, we have the bottom of the trendline as support, if that fails, we see downside.
Watching it this week.
Sign of Strength in the chart:
1. Reversal back to 20/40ma
2. Pullback with NS signal
3. Triple NS in the chart
Disclaimer
This information only serves as reference information and does not constitute a buy or sell call. Conduct your own research and assessment before deciding to buy or sell any stock
$BYD nice big base around 50 MA
That big volume day on June 25th throws OBV off balance, so not much wait to that pattern on this setup
Would like to see it tighten up a bit under that $63 level (orange bars)
#TAPLOTWL
My dowsing picked this stock and is suggesting it will be making a new all-time high and that it's a suitable entry around now. Setup looks fine, just been consolidating. It does have a weekly squeeze. I expect to reach the new highs at the beginning of November.
Stochastic RSI indicates we are in the oversold territory and the MACD looks like it is ready to crossover soon on the daily chart as well. Chart patterns indicate uptrend and potential bull flag. I can see a 74USD BYD approaching.
This is not investment advice, always do your own research. Feedback is appreciated.
Resistance 1 : 66.60
Support 1 : 61.00
Support 2 : 58.70
Dropped from New High (71.00) to 66.00 in last Friday. Next week will try to break 66.60 (previous New High before QR). If cannot break, look forward to Support_1 : 61.00.
Resistance 1 : 66.60
Support 1 : 58.70
Support 2 : 55.80
BYD had break new High by last week. BYD must stand above 66.60 for few days for another new High in 26 - 30 April 2021. If drop, look for Support_1 : 58.70
Resistance 1 : 66.60
Support 1 : 58.00
Support 2 : 55.00
BOYD must stand above 66.60 to break another new high for next week, if not, will look forward to Support 1 : 58.00.
