Bilibili INC (US: BILI) strong upside is set to continue after the technical indicate strong resounding bullish signal:
- The overall upside structure is strong as prices have been well supported by the primary and secondary uptrend line.
- Zooming in, the bullish engulfing candle last Wednesday has thrust above the resistance-turned-support level at US$139.64. Despite a bearish tweezer top, the piercing candle rebounded above the support at US$139.64. This indicates bullish upside ahead.
- All of the Ichimoku signals are showing strong bullish upside, where the bullish engulfing candle closes above the Tenkan-Sen.
*Timeline of the trade is 3 weeks from the date issued.
Ichimoku Kinko Hyo
Red dotted line = 9 Periods Tenkan-Sen
Blue dotted line = 26 periods Kijun-Sen
Green Line B= 52 periods Senkou Span B
Pink Line A = 26 periods Senkou Span A
Black line = 26 periods Chikou Span. Lagging line
We do not base our recommendations entirely on the above quantitative return bands. We consider qualitative factors like (but not limited to) a stock`s risk reward profile, market sentiment, recent rate of share price appreciation, presence or absence of stock price catalysts, and speculative undertones surrounding the stock, before making our final recommendation
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