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BYD Co. (1211.HK) Emerges from Correction, Resumes Strong Uptrend

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
BYD Elliott Wave Chart

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 at 426.60, marking the end of Wave I of (III). A subsequent pullback in Wave II of (III) concluded at 309.80, and the stock has since resumed its ascent to a new all-time high. As long as the pivot low at 161.70 holds, expect pullbacks to attract buyers in a 3, 7, or 11-swing sequence, supporting further upside.
Coverage Information
We do not cover BYD (ticker: 1211.HK on the Hong Kong Stock Exchange) in our service. However, we provide coverage for U.S. stocks, indices, ETFs, forex, and commodities. Take our 14 days Trial to check our service.
Source:-forecast.com/stock-market/byd-co-1211-hk-emerges-correction-resumes-strong-uptrend/