Something caught our attention on the weekly chart on $1211 BYD Company Limited on the HKEX. While the price is making higher high, we observed that the momentum is making a lower low forming a bearish momentum divergence.
As you can see from the chart, each thrust momentum is diminishing forming a rising wedge which is a bearish price action.
We foresee the momentum extinguish at the 3rd oscillation and eventually price will break down from the rising wedge into a bear cycle.
Attractive R:R if you were to ask me.
To achieve what others won't, you have to do what others don't“
As you can see from the chart, each thrust momentum is diminishing forming a rising wedge which is a bearish price action.
Attractive R:R if you were to ask me.
To achieve what others won't, you have to do what others don't“