TECHNICAL ANALYSIS

BYD may trend higher after breaking out from a two-week bullish flag pattern last week. In view of the positive cross of its 20-day EMA above the 50-day EMA, this bullish crossover has enhanced the upward momentum. We expect the rising momentum to steer the stock higher and test the next level of resistance in the near term.

Fundamentals

Net profit is expected to grow at a CAGR of 27% for the next 3 years with strong net margins higher than 5%.

Source: Rakuten Research - 19 Mar 2024

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