XPEV price on a squeeze between the trendline and $47.9
Updated
XPEV is still respecting the trendline but hasn't been able to break above the $47.9 resistance. This is creating a squeeze in the price that shows traders' indecision. Other indicators are also flat (although slightly bullish) so not much can be inferred from them:
+DI is above -DI but curling down, ADX is flat below 20 (thus not showing signs that a trend is coming), MACD is curling up slowly, which is bullish but doesn't mean the price will go up right now, and finally OBV is moving in accordance with the price so there is no divergence and no hidden accumulation.
I have been buying when XPEV comes close to the trendline. We now have support from the 14-ema, 21-ema, and the trendline. If those are broken we could see some downside in the short/mid term.
***If you get anything out of this TA, please like and follow for future updates and more TA. Thanks a lot!***
***THE IDEAS SHARED HERE ARE MY OPINION. THIS IS NOT FINANCIAL ADVISE TO PLACE TRADES. PLEASE DO YOUR OWN RESEARCH AND ANALYSIS BEFORE BUYING/SELLING STOCKS.***
+DI is above -DI but curling down, ADX is flat below 20 (thus not showing signs that a trend is coming), MACD is curling up slowly, which is bullish but doesn't mean the price will go up right now, and finally OBV is moving in accordance with the price so there is no divergence and no hidden accumulation.
I have been buying when XPEV comes close to the trendline. We now have support from the 14-ema, 21-ema, and the trendline. If those are broken we could see some downside in the short/mid term.
***If you get anything out of this TA, please like and follow for future updates and more TA. Thanks a lot!***
***THE IDEAS SHARED HERE ARE MY OPINION. THIS IS NOT FINANCIAL ADVISE TO PLACE TRADES. PLEASE DO YOUR OWN RESEARCH AND ANALYSIS BEFORE BUYING/SELLING STOCKS.***
Note
I have been buying the EMAS support and selling the resistance to lower my average price:Note
Yet another bounce from the trendline. I bought more shares around $43.8 and $44 to lower my average buy price. If this thing goes up I should start making profits very fast: Note
What have I been telling you kids? ;) Next target $51!
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