BYD–Smart Money Push Back Zone | Impulsive Bullish Move Coming?

1211 Description / Idea:

So, BYD will reach the purple "Push Back" zone this week or at the latest next week, where many long traders and probably also the smart money will come back into the market.

📌 Entry: between 110 and 115 HKD
📌 Stop Loss: below April low (~101 HKD)
📌 Take Profit: I will share the exact TP later as it depends on timing and the upper trendline, where the higher highs usually get rejected.

🔍 The upward move is forming like the last one in an ABC pattern and will most likely run between the 78.6% and 50% Fibonacci levels. I plan to hold it continuously as long as the structure remains bullish.

⚠️ If the stock falls below the April low, I would rather sell at around 102 HKD.

💡 Since BYD fell below the 78.6% Fibonacci level last night and the split shares were released today, the sell-off could already begin today if the level is retested beforehand.

#BYD #HongKongStocks #SmartMoney #PushBackZone #SwingTrading #Fibonacci #ABCPattern #TradingAnalysis #TechnicalAnalysis #BullishSetup