The post BYD Company Limited (1211.HK) breaking in wave three appeared on BitcoinEthereumNews.com.

BYD Company Limited (ticker: 1211.HK on the Hong Kong Stock Exchange) is a Chinese multinational powerhouse headquartered in Shenzhen. Initially a battery maker, it became the world’s top producer of plug-in electric vehicles by 2022, surpassing Tesla with over 3 million new energy vehicles sold by 2023, thanks to hits like the affordable Dolphin and its innovative Blade Battery. The stock has recently broken to new all-time high within wave III. Below we will take a look at the long term Elliott Wave path. BYD monthly Elliott Wave chart Monthly Elliott Wave Chart of BYD above shows the stock extends to new all-time high within wave (III). From all-time low, the stock rallied impulsively in 5 waves where wave I ended at 88.4 and pullback in wave II ended at 10.92. The stock then rallied higher in wave III towards 324.6 and pullback in wave IV ended at 165. Final wave V higher ended at 333 which completed wave (I) in higher degree. Pullback in wave (II) ended at 161.7 and the stock is now rallying in wave (III) higher. As far as pivot at 161.7 low holds, expect pullback to find support in 3, 7, 11 swing for more upside. BYD daily Elliott Wave chart Daily Elliott Wave Chart of BYD above shows the stock is rallying higher within wave (III). Wave (I) ended at 333 and pullback in wave (II) ended at 161.7. Up from there, wave I ended at 280.6 and pullback in wave II ended at 167.80. The stock then resumed higher in a nest. Up from there, wave ((1)) ended at 320.8 and wave ((2)) ended at 245.4. Expect the stock to extend a few more highs to complete wave ((3)), then it should pullback in wave ((4)) to correct cycle from 1.13.2025 low before…

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Filed under: News - @ February 24, 2025 1:27 pm