3 Strong Buy EV Stocks to Add to Your Q2 Must-Watch List

InvestorPlace03-29

Here are just a few hot EV stocks to buy and hold today. Tesla (NASDAQ: TSLA): Analysts at Morgan Stanley are out with a $320 price target. Li Auto (NASDAQ: LI): Most of the negativity stemming from ...

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It’s also just starting to pivot from over-extensions on RSI and MACD. And from its current price of $180.01, I’d like to see it retest $260 again near term.Granted, LI did just drop from about $46 to $30.19. All after noting that its first quarter deliveries would come in far less than prior estimates. It now expects deliveries to come in around76,000 to 78,000, which is less than its prior forecast range of 100,000 to 103,000. That’s to be expected when EV sales have slowed, though.","collect":0,"end_time":0,"defaultTopTitle":"investorplace.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"LU0466842654.USD":"HSBC ISLAMIC GLOBAL EQUITY INDEX \"A\" (USD) ACC","DRIV":"Global X Autonomous & Electric Vehicles ETF","LU0689472784.USD":"安联收益及增长基金Cl AM AT Acc","LU0511384066.AUD":"SUSTAINABLE GLOBAL THEMATIC PORTFOLIO \"A\" (AUDHDG) ACC","BK4535":"淡马锡持仓","LU1720051017.SGD":"Allianz Global Artificial Intelligence AT Acc H2-SGD","BK4543":"AI","BK4538":"云计算","NVDA":"英伟达","LU0971096721.USD":"富达环球金融服务 A","LU0820561818.USD":"安联收益及增长平衡基金Cl AM DIS","03160":"华夏日股对冲","LU0149725797.USD":"汇丰美国股市经济规模基金","LU0127658192.USD":"EASTSPRING INVESTMENTS GLOBAL TECHNOLOGY \"A\" (USD) ACC","TSLA":"特斯拉","LU1668664300.SGD":"Blackrock World Financials A2 SGD-H","BK4533":"AQR资本管理(全球第二大对冲基金)","IE00BJTD4N35.SGD":"Neuberger Berman US Long Short Equity A1  Acc SGD-H","MSFT":"微软","QID":"纳指两倍做空ETF","BK4549":"软银资本持仓","LI":"理想汽车","FDN":"First Trust Dow Jones Internet I","LU2357305700.SGD":"Allianz Global Artificial Intelligence ET H2-SGD","LU1839511570.USD":"WELLS FARGO GLOBAL FACTOR ENHANCED EQUITY \"I\" (USD) ACC","BK4548":"巴美列捷福持仓","EVS.SI":"MSCI China Electric Vehicles and Future Mobility ETF-NikkoAM","TQQQ":"纳指三倍做多ETF","GB00BDT5M118.USD":"天利环球扩展Alpha基金A Acc","AAPL":"苹果","QQQ":"纳指100ETF","QLD":"纳指两倍做多ETF","LU0353189680.USD":"富国美国全盘成长基金Cl A Acc","PSQ":"纳指反向ETF","BK4554":"元宇宙及AR概念","BK4532":"文艺复兴科技持仓","BK4553":"喜马拉雅资本持仓","LU0820561909.HKD":"ALLIANZ INCOME AND GROWTH \"AM\" (HKD) INC","LU1914381329.SGD":"Allianz Best Styles Global Equity Cl ET Acc H2-SGD","LU2249611893.SGD":"BNP PARIBAS ENERGY TRANSITION \"CRH\" (SGD) ACC",".IXIC":"NASDAQ Composite","BK4534":"瑞士信贷持仓","TM":"丰田汽车","BK4555":"新能源车","LU1363072403.SGD":"Fidelity Global Financial Services A-ACC-SGD","SQQQ":"纳指三倍做空ETF"},"translate_title":"3强购买电动汽车股票加入你的Q2必看名单","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"TSLA":1,"AAPL":1,"DRIV":1,"TM":1,"MSFT":1,"NVDA":1,"LI":1,"FDN":0.9,".IXIC":0.9,"PSQ":0.6,"QID":0.6,"QLD":0.6,"QQQ":0.6,"SQQQ":0.6,"TQQQ":0.6,"03160":0.6,"EVS.SI":0.6,"MNQmain":0.6,"NQmain":0.6},"content_text":"Here are just a few hot EV stocks to buy and hold today.\nTesla (NASDAQ: TSLA): Analysts at Morgan Stanley are out with a $320 price target.\nLi Auto (NASDAQ: LI): Most of the negativity stemming from guidance has been priced in here.\nGlobal X Autonomous & Electric Vehicles ETF (NASDAQ: DRIV): Diversify with top EV names makes this a top buy.\n\n\n\n\n\n \n\nSource: shutterstock.com/Nixx Photography\n\n\n\nCrisis will lead to opportunity with strong buy EV stocks. \nMany of the top EV stocks could see upside if and when the Federal Reserve starts cutting interest rates again. As it stands now, current rates have put a chokehold on the industry with ridiculously high borrowing costs. \nBut again, once rates come down, sales could go back up. \nThe other issue hurting greater adoption is the lack of EV charging infrastructure. Nearly 51% of Americans are concerned about that, says EY.com. However, with greater investment in infrastructure, we could soon see greater chances for further adoption.\nPlus, with many of the top strong buy EV stocks down in the dumps, I’d use that as an opportunity to accumulate on the cheap. Remember, as Baron Rothschild would say, “buy the blood in the streets, even if the blood is your own”\nAgain, once we see the Federal Reserve cut ratee, and we start to see a greater build-out of EV charging infrastructure, sales will come back strong. For the time being, I’d just invest in some of the top names on the cheap and wait. Here are three EV stocks you may want to buy now.\nTesla (TSLA)\nSource: Hadrian / Shutterstock.comAt the moment, Tesla (NASDAQ:TSLA) is technically oversold at double-bottom support dating back to May. It’s also just starting to pivot from over-extensions on RSI and MACD. And from its current price of $180.01, I’d like to see it retest $260 again near term.\nHelping, the company just said prices of its Model Y will increase by April 1 by $1,000–which should help improve its margins. Two, analysts at Morgan Stanley are out with a $320 price target. Three, according to the Italian newspaper–II Sold 24 Ore–officials at the Industry Ministry may be working with Tesla to produce EV trucks in the country.\nRecent earnings were nothing to write home about. Fourth quarter revenues were up just 3% to $25.2 billion. Adjusted EPS slipped to 71 cents a share. And both disappointed analysts. However, much of that negativity has been priced into the TSLA stock. Plus, Cathie Wood’s ARK funds bought about 116,408 shares of TSLA earlier this month.\nLi Auto (LI)\nSource: Robert Way / Shutterstock.comI’d also use weakness in other EV stocks, like Li Auto (NASDAQ:LI) as an opportunity.\nGranted, LI did just drop from about $46 to $30.19. All after noting that its first quarter deliveries would come in far less than prior estimates. It now expects deliveries to come in around 76,000 to 78,000, which is less than its prior forecast range of 100,000 to 103,000. That’s to be expected when EV sales have slowed, though.\nThe good news here is that it appears most of the negativity stemming from guidance has been priced in. It’s also now oversold on RSI, MACD, and Williams’ %R and is likely to push higher, with patience. If you pull up a two-year chart, you’ll see that each time RSI, MACD, and W%R align in oversold territory, the stock bounces back strong.\nAlso, just days ago, analysts at Bank of America reiterated a “Buy” rating on the Li Auto stock, with a price target of $57 a share. That was after the company’s fourth quarter earnings report, which showed a 136% jump in revenue, and a jump in gross profit margins to 23.5%.\nGlobal X Autonomous & Electric Vehicles ETF (DRIV)\nSource: Zapp2Photo / Shutterstock.comOr, if you want greater exposure to most strong buy EV stocks at less cost, look at the Global X Autonomous & Electric Vehicles ETF (NASDAQ:DRIV).\nWith an expense ratio of 0.68%, the ETF currently invests in 45 stocks involved in the development of autonomous vehicle technology, electric vehicles and EV components and materials. Some of its top holdings include Nvidia (NASDAQ:NVDA), Toyota Motor (NYSE:TM), Microsoft (NASDAQ:MSFT), Tesla, and Apple(NASDAQ:AAPL) to name a few.\nAt less than $25 a share, the DRIV ETF has been trending higher since bottoming out at around $23 a share. From its current price of $24.67, I’d like to see it retest $27.50 near term. What’s nice about the ETF is that I can buy 100 shares of it for about $2,500. Meanwhile, if I were to buy 100 shares of just one of its holdings, such as TSLA, it would cost me close to $18,000.\nOn the date of publication, Ian Cooper did not have (either directly or indirectly) any positions in the securities mentioned. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.\nIan Cooper, a contributor to InvestorPlace.com, has been analyzing stocks and options for web-based advisories since 1999.Automotive, Consumer Discretionary, Electric VehiclesGrowth Stocks\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nSubmit\n\n\n\n\n\n\n\nArticle printed from InvestorPlace Media, https://investorplace.com/2024/03/3-strong-buy-ev-stocks-to-add-to-your-q2-must-watch-list/.\n©2024 InvestorPlace Media, LLC","kind":null,"is_publish_news":null,"is_publish_highlight":null,"is_publish_live":null,"is_publish_wemedia":null,"editions":null,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":1,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.22.4","shortVersion":"4.22.4","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2423492140"}