The post BYD Co. (1211.HK) emerges from correction, resumes strong uptrend appeared on BitcoinEthereumNews.com.

About BYD: China’s Electric Vehicle Market Leader BYD Company Limited (ticker: 1211.HK on the Hong Kong Stock Exchange) is a Chinese multinational powerhouse based in Shenzhen. Originally a battery manufacturer, BYD has emerged as the world’s leading producer of plug-in electric vehicles, surpassing Tesla by 2022. By 2023, it had sold over 3 million new energy vehicles, driven by popular models like the affordable Dolphin and its innovative Blade Battery. Recently, the stock has surged to a new all-time high within Wave (III). Below, we explore its long-term Elliott Wave trajectory. Monthly Elliott Wave perspective The monthly chart for BYD displays a completed Wave (I)-(II) structure, with the current price action indicating a breakout in Wave (III) The monthly Elliott Wave chart for BYD illustrates a strong upward trend, with the stock reaching a new all-time high within Wave (III). From its all-time low, BYD rallied impulsively in five waves, completing Wave (I) at 333, followed by a Wave (II) pullback to 161.70. The stock then continued its ascent in Wave (III) as a nest. From the Wave (II) low, Wave I peaked at 426.60, with a subsequent Wave II pullback to 309.80. As BYD continues to break to new all-time highs and remains above 161.70, further upside is anticipated. Daily chart breakdown The daily chart for BYD illustrates the ongoing progression of Wave (III), featuring nested sub-waves within its structure The daily Elliott Wave chart for BYD illustrates the stock’s ongoing rally within Wave (III). The structure shows Wave (I) peaking at 333, followed by a Wave (II) pullback to 161.70. From there, the stock advanced in Wave ((1)) to 280.60, with a Wave ((2)) pullback to 167.80. The rally resumed in Wave ((3)) to 320.80, followed by a Wave ((4)) dip to 245.50. The final Wave ((5)) completed…

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Filed under: News - @ May 20, 2025 6:28 pm