Li Auto is about to manipulate the highs it made a year ago!I annotated this chart so hard this time and I know its annoying to look at...but you have your own clean screens to look at it... This should atleast explain what I see and help those who don't know, what to look for. I accidentally came across this chart because I was trying to type bili bili but when i saw the chart with my ESVO lines on it I was like I have to play it. So for me this is just an update to this play that I got into a week ago. Obviously it looks a lot better now that we are here. And I never once thought my bias was wrong as you can tell it didn't want to dump. Because if it did want to it would have. The price was always withing a dollar or a dollar and change to the entry. Now that it has come back to this area I broke down everything the lines are telling me plus everything I see with the amount of space that I have to work with. I could go into about 5 other kinds of trading styles and break those down but I figure I will just leave it at this. Its bullish! All the other stocks in the group are moving with it. So that tells me that big money has been fostering this group of stocks to get it to this point over the last year or less. Since the last highest high.
So that should tell you there is a pile of shorts up there that need to be covered for them to continue this move up above that. unless there is a massive surge of volume it might take a while to consolidate all of them. I will be looking for a trend line that this will be tapping into over the duration of this move. And also a trend change which shows that liquidation of shares has begone and that we should be looking for an exit.
I do think this could take another 3-6 months to complete. all of the hot areas for this stock are marked on this chart with the exception of the three just below our current price.
And Current Price of HKEX:26 this weeks highest volume area
$24 Automatic, Session, Daily, Highest High
HKEX:23 Daily. Weekly
HKEX:22 Highest Low
all great supports as they are all stacked under us.
If nothing else I think we should hit HKEX:30 however, HKEX:38 and $41.50 are also huge areas of untapped stop losses and pockets of retailers waiting.
by iCantw84it
04.17.23
Sla
TESLA (elliot wave update)Looking at past market corrections, 2020 is a new beast. There is absolutely nothing in history that had us crash this fast and this hard.
This leads me to believe that a bounce up should be higher. In my last TESLA update i did post this as secondary count.
I feel the SP500 index needs to go higher prior to retest of the lows, just looking at certain indicators like MACD and RSI things look too proportional, yes im expecting lower prices but it wouldn't make sense to have them right now. I still feel we are in heavily oversold conditions from the March drop. Major stocks of course will follow. The 2008 correction or the flash crash of 87' dont even compare to this, the great depression doesnt either. Yes it went down further, but over years, no correction in history dropped this far this quick.
What I feel is a probable count is a larger more complex correction. I still see lower prices in 2020, just not right now. A mini bull market? perhaps.
Not a financial advice, just my analysis.
Cheers,