XPEV price on a squeeze between the trendline and $47.9XPEV 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.***
XPEV
A 10.48% gain in one day is not bad! A 10.48% gain in one day is not bad!
This is a follow up writing for my article published yesterday January 6, 2021, with the title "Weekly Trade Ideas for the 11 Automobile Manufacturers" In that article, I wrote, "Trade Idea: Too early to determine anything." But I marked an arrow to around the price of $45.37. Here is the link to the article:
On January 7, 2021, a bull gap today at the morning open and this stock rushed higher to $44.99 as of the market close of January 7, 2021. I do consider the price target is met today because $44.99 is not too far from $45.37.
Below is a link showing the stock performance on January 7, 2021, compared to my first chart interpretation on January 6, 202.
Trade Idea: Still too early to determine the longer trend. Still bearish, but more bullish.
Thank you for reading!
Greenfield
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Disclosure: Charts and articles interpreted by Greenfield. A market idea by Greenfield Analysis LLC for educational purposes only. This is not a solicitation and not a recommendation. Greenfield Analysis LLC has no investment in any of the securities mentioned in the article, and no plan to initiate a trade in any of the securities mentioned. Greenfield does not receive any compensation for this writing. Investment involves substantial risk. You should consider carefully before making an investment and investment is at your own risk.
XPEV respecting the trendlineDespite the recent fall XPEV has been respecting the trendline, which is what you want to see on stocks you own. Although there is some overhead with 14/21 emas and the $45 resistance the RSI and MACD show bullish momentum. This may be a good place to buy (or add more shares) with minimum risk since you can place a stop loss just below the trendline (perhaps below the 50-ema).
***If you get anything out of this TA, please like and follow for future updates and more TA. Thanks a lot!***
***THE IDEAS SHARED HERE ARE MY OPINION. THIS IS NOT FINANCIAL ADVISE TO PLACE TRADES. PLEASE DO YOUR OWN RESEARCH AND ANALYSIS BEFORE BUYING/SELLING STOCKS.***
XPEV- ONE STEP AWAY TO CHANGE THE TREND TO BULL AGAINCLOSING BIGGER THAN 21MA THE TREND WILL CHANGE TO UPTREND AND WE WILL REACH THE 65$ -71,70$ AGAIN.
I BELIEVE UNTIL 25 JAN WE WILL SEE 65$ AND NEXT MONTH PERHAPS NEW ALL TIME HIGHS!
THE XPEV IS NEWEST COMPANY THAN NIO AND SELLS LITTLE LESS CAR BUT THE COMPANY WITH THE MOST BENEFITS!
BUY AND HOLD!
Potential 20% upside for XPEV in the short/mid termFundamentals
BofA recently raised XPEV's price target from $43 to $51.1. This is very bullish for XPEV because more often than not these price targets are met in the short to mid term: news.yahoo.com
If you want to see more price targets you can check out this report (some are as high as $58 and $59): www.marketbeat.com
Another thing to keep in mind is that the Chinese EV market is the largest EV market in the world by far and is growing exponentially. XPEV along with NIO and LI is one of the leading companies in the EV market in China. It has recently started entering the European market: www.bloomberg.com
I believe XPEV is poised to move higher in the short to mid term so if you are a trader I don't think there is much to be worried about but if you are a long term investor, it is worth knowing the long term risks as well, which you can learn more on this article: www.bloomberg.com
Technicals
Like other stocks on the EV market, XPEV fell hard from ATH the past month. After hitting about $74 a piece, XPEV seems to have found support around $37.5. There is a white closing marubozu candle on Dec 29th followed by two candles that closed higher consecutively, which signals a possible reversal or the current trend. Although the candles of the 30th and 31st are not very bullish (the one on the 31st is actually a doji) they are also not bearish. So they don't invalidate the white closing marubozu. RSI is starting to turn to the upside and MACD is also starting to curl up. Additionally, the two last candles found support on the 50-ema and broke above the short term trendline. These are all bullish signs. If XPEV can breakout above the 14-ema and 21-ema--which at the time of this writing is overlapping the stubborn $45.5 resistance--and the .618 fib level that has been strong resistance as well, it should be able to reach $51, a level that was tested 5 times the past few weeks but not broken. If/when we get there, we can reassess what the next move should be.
For those who want to jump in, this seems like a good level to start dollar cost averaging (DCA). If you are more conservative you can wait for a re-test of the trendline or 50-ema, which at the time of this writing are pretty close to one another.
I own XPEV and am looking to add a few more shares if the price keeps pushing up. If/when it reaches the $51 target I will reassess the charts and possibly take some profits.
***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.***
FLY OR FRY FOR TSLAWe are seeing some weakness in electric vehicle stocks in the past few days. Right now there is a double bottom forming on xpev and Li auto. Tesla is looking to swing up or breakdown here at the bottom of its consolidation. I think we can see TSLA lead the charge as EV stocks start to rally into the New Year.
XPEV AnalysisPeople who bought XPENG share from SUPER BUY & BUY2 signals, enjoy your 156.44% PROFIT that you made less than a month!
As of now, we have 3 different sell signals present. (SELL 4 is just behind SELL 2) and EngineeringRobo is BEARISH!
If you haven't bought XPENG yet, wait for EngineeringRobo's buy signals or you can buy if the candles open-close above my resistance level (72.23)
Also, if the candles will go to my support level (20.52), that may be a good opportunity to buy!
After you buy, please watch out for EngineeringRobo's sell signals and consider selling it.