$XPEV
Added 2024-07-03 16:49:13 +0000 UTC$NIO may not be the only Chinese EV company that is showing signs of finding support.
$XPEV texted its $6.22 blue line twice, once in November '22 and again in April '24.
Both times the price has held and the price action is back above the 50 Day MA now and most importantly, has broken out of this very long wedge, this happened in May too but on the retest of the wedge, the price could not hold, if $XPEV can retest the wedge breakout level at $8 or simply stay above this level now, it could be in a strong position to reverse here.
The 200 Day MA at $11.50 would need to be flipped to support to confirm the reversal is on here for us.
