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Despite all the big sums of money thrown into R&D, Geely Automotive with much cloud in this fiercely competitive industry fails to elevate its share price any higher than 15.50 since Nov 19.
Share price took a nosedive last year to its bad sales (actually the entire automotive industries) before settling at a support level of 12.46. It attempted to rebound quite strongly but when it almost hit 15.50 in mid Feb this year, it pulls back again.
Now, within the inner bullish trend line, it can attempt to visit the resistance once more at 15.50. If that fails, it could falters and slide down to the main bullish trend line (green) at around 13.00. And if that also fails, then it could revisit the support at 12.46 again.
I would be keeping this stock in my watch list and see how it performs this few months. No hurry to buy as I expect some M&A activities within the China automotive markets.
Despite all the big sums of money thrown into R&D, Geely Automotive with much cloud in this fiercely competitive industry fails to elevate its share price any higher than 15.50 since Nov 19.
Share price took a nosedive last year to its bad sales (actually the entire automotive industries) before settling at a support level of 12.46. It attempted to rebound quite strongly but when it almost hit 15.50 in mid Feb this year, it pulls back again.
Now, within the inner bullish trend line, it can attempt to visit the resistance once more at 15.50. If that fails, it could falters and slide down to the main bullish trend line (green) at around 13.00. And if that also fails, then it could revisit the support at 12.46 again.
I would be keeping this stock in my watch list and see how it performs this few months. No hurry to buy as I expect some M&A activities within the China automotive markets.
ملاحظة
initiated a small position this morningملاحظة
nice, up 8% today !ملاحظة
it is up nearly 7% today. those who keen to get in wait for the pull back at 18.ملاحظة
we have 6 straight days of bullish moves......a healthy correction is imminent so ensure your SL is not too near else you may close early and have to re-enter at a higher price.ملاحظة
added moreملاحظة
congrats to those who followed
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إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.