EV with symmetrical triangle▶️?

It has been quite some time that I do not share technical analysis on EVs already. Recently I found two famous EV counters with symmetrical triangle pattern.

Symmetrical triangle

A symmetrical triangle is a chart pattern characterized by two converging trend lines connecting a series of sequential peaks and troughs. These trend lines should be converging at a roughly equal slope.

Symmetrical triangle pattern

1. Symmetrical triangles occur when a security's price is consolidating in a way that generates two converging trend lines with similar slopes.

2. The breakout or breakdown targets for a symmetrical triangle is equal to the distance between the initial high and low applied to the breakout or breakdown point.

3. Many traders use symmetrical triangles in conjunction with other forms of technical analysis that act as a confirmation.

Actual EV examples

First one will be the famous $Tesla Motors(TSLA)$ , I believe it will be a breakout instead of breakdown after this consolidation phase. The consolidation might take few more weeks but without doubt, next week earnings result will be the key decider for this counter. Investors will hope for better news with great production and delivery numbers. Another highlight will be on the TESLA Cybertuck launch, as well as a confirmation of the company's 2023 and 2024 delivery outlook. If the prospects are good next week, the upside chance is higher! My mid term target price for Tesla will be 300 USD. 

TSLA daily chart

Another similar symmetrical triangle pattern that I find is in Xpeng chart. Any chance for a breakout too, together with TESLA for this Chinese EV? Recently, Xpeng CEO also mentioned the joint models with Volkswagen moving at full speed! Over the last few months, the joint development of Xpeng and Volkswagen joint models has accelerated, with both technical teams moving at full speed like a start up team. Everything sounds great at the moment and I trust more good news will come, therefore $XPeng Inc.(XPEV)$ ! 

XPEV daily chart

Have you learnt the symmetrical triangle pattern and do you apply it in your daily trading? Come and share with us! 

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