Rakuten Trade Research Reports

Foreign Equities (HK): BYD CO LTD - H

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Publish date: Tue, 07 May 2024, 09:46 AM
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TECHNICAL ANALYSIS

BYD recently formed a double bottom pattern and surpassed the neckline of HKD214 a few sessions ago, signaling a trend reversal. In view of the stock pulling further away from all the EMAs, we believe a positive outlook is expected in the near term. We anticipate the rising momentum to steer the stock higher and test the next level of resistance anytime soon.

Fundamentals

Net profit is expected to grow at a CAGR of 20% for the next 3 years with net margins ranging between 4.7%-5.5%.

Source: Rakuten Research - 7 May 2024

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