$LI
Added 2024-09-18 12:05:53 +0000 UTCIn my last $LI upload, I said that when I see $LI moving positively, it could signal the resurgence in the Chinese EV sector.
Yesterday $LI bounced +12%
Benzinga:
Li Auto Inc. 
LI
Li Auto’s stock soared by 12.28% to close at $21.39. The Chinese electric vehicle manufacturer’s shares hit an intraday high and low of $21.4 and $20.21 respectively. The company’s stock traded higher following a report indicating that the People's Bank of China plans to cut the bank reserve requirement ratio.
This could encourage more spending on luxury items like upgrading your car to a Hybrid or Full EV.
$NIO likely got a bounce from this too.
$LI needs to break out and hold above $22 and we could see a strong bounce up to the 200 Day MA at $27.
