BiliBili Inc (US: BILI) technical analysis signals short-term upside after the share price broke above the immediate downtrend line:   

1. The potential inverted head and shoulder pattern signals further upside upon prices breaking key resistance level of US$119.00.
2. The strong bullish candle in the immediate resistance zone signals strong demand and high probability of a breakthrough. In addition, the resistance zone has been weakened after multiple tests.
3. The Ichimoku displays 2 out of 3 signals of the “Three Golden Cross”. The Tenkan-Sen crossed above the Kijun-Sen, and the Chikou-Span broke above the current price level. Furthermore, the current share price is inching towards the Kumo, and strong momentum indicates a likely to break above.

*Expected timeline of the trade is 10 weeks from the date of report issuance.

CHART LEGENDS

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