BYD car Singapore made?

While watching youtube.com recently, I came across this advertisement about people being interviewed mentioned about working in automotive manufacturing. Then while I was driving on the road I came across this sticker on a BYD car "BYD, Singapore made car".

This stirred up my curiosity, " has BYD set up factory in Singapore?"

If this is true, then it is possible an indication that Chinese companies are moving their manufacturing over sea. 

This is very similar to the situation in Singapore during the late 90s. Government policy of " benefiting thy Neighbour" plus unfavorable economic condition of Singapore in term of cost led to the exodus of manufacturing facilities to China. This created massive retrenchment in the country and displacement of profession in area of PMET (Professionals, Managers, Engineers and Technicians). 

This phenomenon lasted until now, with many former PMETs forced to change their professions to survive, most ended up driving taxis. 

I was one of the lucky one then, choosing to enroll myself into a Graduate Diploma in Business Administration, then changed my profession to be at the front end, landed myself in Sales and Marketing, extending my career by another 23 years.

Back to BYD. A search through the net shows no indication of BYD setting up a plant here. Hyundai on the other hand, set up an innovation center in Singapore.

Nevertheless, it will be interest to check on BYD as it is one of the leaders in electric vehicles.

Fig 1. BYD weekly chart

I am using the chart of BYD from the Hong Kong stock exchange for this. 

It is interesting to note the stagnation before a surge in 2020 reaching its peak by 26th June 2022. 

However, between 2021 till now, it seems that BYD is creating a top formation, with a very choppy behavior. While it seemingly rise up since 30th Oct 2022 till 30th Jul 2023., the pattern is of a 3-wave formation, counter wave, couple with a steep fall from its peak, I will have to assume it will continue downward. 

An interesting thing to note is the MACD which through the years been declining with lower high while BYD chart reaching higher. This is sign of divergence, indicating its reversal tendency. 

The peak on 30th Ju7ly 2023, however, is a confirmation.

By this week, it has crossed its 144-week moving average, and closed below this support level. 

I suspect BYD will correct upward retesting the moving averages before its continuation.

The major support for BYD will be between 109 to 174. 

For the time being it has crossed its 61.8% projection at 210, coincidentally close to its 144-week moving average of 218. This may be the cause of a pause or correction for retest the moving average supports turn resistances. The next level of short-term support will be 184. 

Since I have started on BYD this round, I will check on the bgi brother of EV in my coming week, Tesla.