With the strong rebound in US markets yesterday, a number of stock have started to bounce decisively off their recent low.
BILI has yet to bounce and appears to have found support at the 50% fibonacci retracement level around 40.85. A Bullish divergent between price and stochastic is also forming, presenting a good low risk entry right now.
Long @ 42.38 with an initial stop loss a few ticks below the recent low of 40.38 with a potential swing target to recent high at 50-51.
caveat: BILI's momentum could be slow looking at it's past trend, mostly small range days with a good burst only now and then. Have to tame our expectations :)
Disclaimer: This is just my own analysis and opinion for discussion and is not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance. Thank you.
BILI has yet to bounce and appears to have found support at the 50% fibonacci retracement level around 40.85. A Bullish divergent between price and stochastic is also forming, presenting a good low risk entry right now.
Long @ 42.38 with an initial stop loss a few ticks below the recent low of 40.38 with a potential swing target to recent high at 50-51.
caveat: BILI's momentum could be slow looking at it's past trend, mostly small range days with a good burst only now and then. Have to tame our expectations :)
Disclaimer: This is just my own analysis and opinion for discussion and is not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance. Thank you.