$XPEV - Game Plan July 31st
XPEV - Game Plan July 31st Xpeng's stock performance and forecast:
On Friday, July 28th, 2023, Xpeng's stock price rose by 15.68%, from $20.22 to $23.39, with fluctuations between $21.45 and $23.62.
The stock has gained for 3 consecutive days and is up by 66.83% over the past 2 weeks. Volume has increased along with the price, which is considered a positive technical sign, with 59 million shares traded for approximately $1.37 billion.
The short-term trend indicates a strong rising trend, and further rise is indicated.
Xpeng stock holds buy signals from both short and long-term Moving Averages, as well as a buy signal from the 3-month Moving Average Convergence Divergence (MACD).
Support levels are found just below the current price at $20.22 and $19.46, but breaking these levels may lead to a significant drop in the stock price.
The stock is extremely overbought on the RSI14 (84), but due to the trend break-up, the chance of a major correction due to high RSI is considered small.
For the upcoming trading day on Monday, July 31st, Xpeng Inc is expected to open at $22.82 and could move between $21.90 and $24.88.
Despite several positive signals, Xpeng Inc is not considered a strong buy candidate at the current level and is suggested to be a hold/accumulate candidate, awaiting further development.
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