The Long Investor

$XPEV - RC -

Added 2023-07-28 18:49:52 +0000 UTC

$XPEV has been on an incredible run with a lot of positive catalysts in their favour.

VW partnership being the most important catalyst.....coupled with optimism coming out of China and a recovery in production numbers....nowhere near where it was this time last year but a recovery away from tougher times.

If we look at the chart, it is clear that this impulse wave is extended now....after Wave 2 held the 0.5 Fib and the 50 and 200 Day MA together, it was in a strong position, the extension of these waves can be marked as 1.618, 2.618 and 3.618.....it is rare to see a price go all the way to 3.618....but a lot of positive news, coupled with some short covering from those that were caught out from the partnership, has brought the price up quite high.....this will come down soon and complete its ABC corrective wave...so if the price does run to $25.75....then the price can come down to between $16-$18.