Technical Pulse: Bilibili Inc February 16, 2021 182
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.
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
About the author
Chua Wei Ren
Technical Analyst
Phillip Securities Research Pte Ltd
Wei Ren specialises in Technical Analysis and has 9 years of experience in studying classic technical price action. He also study and research extensively on Elliott wave theory, Dow Theory and Supply & Demand strategies as he believes that history plays an important role in how the market is reflected in the future.
He graduated with a Bachelor of Economics and Finance from University of Murdoch.