BYD may trend higher after it gapped up, signalling a continuation of the ongoing momentum. The stock is showing strong bullish signals, with a potential convergence of the 20-day and 50-day EMAs accompanied by positive MACD crossover. We expect this rising momentum to drive the stock higher, potentially testing the next resistance level in the near term.
Net profit is expected to grow at a CAGR of 22% for the next 3 years with strong net margins circa 5%- 5.5%.
Source: Rakuten Research - 21 Jan 2025
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