Is XPEV making a move higher ? LONG
Updated
XPEV on the 2H chart had a summer peak with the announcement of the collaboration with
VW which then ran into quicksand. Price fell down to the support and demand zone and
now appears to be rising despite a miss on the earnings report. It seems that with the
US markets in quagmire, some investors and traders are diversifying offshore. XPEV, NIO, BABA
and BIDU may be benefiting. XPEC seems to have a good RS profile with the lower time frame
above the higher time frame and both of the above the 50 level. I will look for a long swing
trade entry on the 15-30 minute time frames targeting a price of 22 for a 25% return
VW which then ran into quicksand. Price fell down to the support and demand zone and
now appears to be rising despite a miss on the earnings report. It seems that with the
US markets in quagmire, some investors and traders are diversifying offshore. XPEV, NIO, BABA
and BIDU may be benefiting. XPEC seems to have a good RS profile with the lower time frame
above the higher time frame and both of the above the 50 level. I will look for a long swing
trade entry on the 15-30 minute time frames targeting a price of 22 for a 25% return
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