$XPEV - RC -
Added 2023-08-05 19:16:28 +0000 UTCIn our last update of $XPEV we spoke about how extended this has been, especially for Wave 5 and at that point, we could see that it was on track to hit the 3.618 Fib, I have said before that I have never seen a stock extend past the 3.618 Fib before too.
Before it got its chance to test $25, it rejected and has dropped from $23.50 to $18.3.....although an aggressive drop, it was needed and due.
We want to see this structurally come down now in 3 Waves as shown.
Between the 0.5 and 0.618 Fib at $15.60 to $13.70 is the ideal area to complete Wave C. before its move higher again.
$XPEV appears to be ahead of $NIO here, likely brought on my its partnership with VW.
Comments
At this point I think I am going to soften the position on XPEV til the next bottom and wait for the reversal to re-add. I should have done it on the last pump… 😑
Federico Salerno
2023-08-06 10:26:18 +0000 UTCThank you Jai!
Gareth Neary
2023-08-05 20:39:47 +0000 UTCTLI: Solid accuracy on your notion of a (temporary) reversal in price action of XPEV. Wow 🤩
Jai Da
2023-08-05 20:33:50 +0000 UTC$LI? ER on Tuesday… a good one could boost all Chinese EVs
SH
2023-08-05 19:31:14 +0000 UTC
