$LI
Added 2024-08-28 10:55:05 +0000 UTC$LI has just reported and it's been a mixed bag.
Profit halved for the quarter but they have guided for stronger sales....so the share price is quite tame in the PM now.
My belief is that the EV growth sector from China will likely reverse only when $LI signals a reversal, they are leading $NIO and $XPEV but trail BYD and $TSLA as these companies are in more mature stages
$LI has found support between its 0.618 - 0.78 Fibs and has put in higher lows so far but will need to break above $22 before confirming a higher high
Price is above the 50 Day MA however
If they can break higher, a route back to the 200 Day MA at $28 next is possible.
