XPEV Round 2Looks ready for another move. RSI curled above 50, break of falling wedge, hist rolling over. Just needs to break resistance with significant volume. Thoughts?
XPEV/N trade ideas
Xpeng reaching previous buy point with a sharp rebound from herePremarket at previous buy point where we witnessed a sharp rebound from here , this buy point is a 40% discount from the top
I will open a call position at the market to play this rebound scenario with Friday maturity if not I let it open till Weds then cut my loss if any ;
Same time I will add some share to my long portfolio if price continue to go down;
this is no a warranty win but I believe some computers are set to buy at this price point like last time
This Chinese delisting is a non event to me as the time frame is 3 years so just short term noise to take advantage.
Not an investment advice and trade at your own risk
Good luck
XPENG got punished It is pretty obvious for me that Xpeng, in absence of positive news will down to the support line 39/40, because it had a way too high speculative up trend. it has lost about 50% of gain now.
Now with all those FOMO trapped, one can only wait till new willing buyers coming in to push it higher, given few want to sell their shares.
$XPEV Xpeng Inc Potential For Relief Rally 🚗🚗
Potential Reversal, dead cat bounce trade in XPEV.
Downtrend broken and indicators looked to have bottomed on daily.
The 0.382 Fibonacci level would be a great target to hit and will
test the strength of the Bulls conviction.
The Daily 20ma sits at approx $52.35 which will also be resistance.
Sellers will be waiting to get out so caution needed.
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NIO Waiting GameNIO showed it was holding levels on this lower Fibonacci level. We really want to see a reversal but ideally a break above 49.12 and a confirm retracement and bullish signals to get back into NIO. Some will be tempted to get back in early, I say, don't be greedy, wait for high probability.
