TECHNICAL ANALYSIS

BYD Electronic is poised for a potential bullish breakout from its one-week bullish flag pattern. Although there was a pullback following the recent rally, we view this correction as a healthy consolidation necessary to sustain the upward trend. Since the stock is still trading above all EMAs, it indicates that the stock is in consolidation mode with a positive bias. We believe the stock has a decent chance to stage a breakout.

Fundamentals

Net profit is expected to grow at a CAGR of 15% for the next 3 years with strong net margins higher than 3%.

Source: Rakuten Research - 25 Jun 2024

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