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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.
Ghi chú
initiated a small position this morningGhi chú
nice, up 8% today !Ghi chú
it is up nearly 7% today. those who keen to get in wait for the pull back at 18.Ghi chú
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.Ghi chú
added moreGhi chú
congrats to those who followed
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Thông báo miễn trừ trách nhiệm
Thông tin và các ấn phẩm này không nhằm mục đích, và không cấu thành, lời khuyên hoặc khuyến nghị về tài chính, đầu tư, giao dịch hay các loại khác do TradingView cung cấp hoặc xác nhận. Đọc thêm tại Điều khoản Sử dụng.