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EV sector next week, UP or DOWN
@Shyon：
🚗🚗🚗 It was definitely a jackpot week for Chinese EV stocks holders, especially for XPEV and NIO. Now, we are curious whether these EV stocks will continue their uptrend momentum or will experience a healthy pullback this week. Well, I have a mix predictions for different EV stocks. Let's start with the leader, $Tesla Motors(TSLA)$ , it didn't have a superb movement last week after earnings. Ascending Triangle Pattern The stock had a healthy pullback and formed an ascending triangle pattern. Next week, it will probably breakout and if this valid, it will be another technical entry point. Let's monitor. Another stock with similar candlestick pattern will be $Rivian Automotive, Inc.(RIVN)$ . Therefore, I had a similar bullish view on it. Ascending Triangle Pattern For Chinese EV trio, let's start with the top gainer last week, XPEV! I am $XPeng Inc.(XPEV)$ in short term as the spike is over 50% in a single week, many investors will start to lock short term profit. See money take money is always correct. But the craziness might continue again. I am short term bearish as the stock has reached its weekly chart resistance around 23-24 USD, so a pullback is highly possible. XPEV weekly chart On the other hand, LI showed a humble breakout in its weekly chart last Friday. It will probably come back to retest this support level before continue to trend higher. $Li Auto(LI)$ LI weekly chart Last but not least, the second top winners of the week, NIO! I agree that the company sales is not doing as good as the rest. But following XPEV good news with VW, investors include me are eyeing for a similar thing to happen in $NIO Inc.(NIO)$ , which may send the stock to the moon. [Chuckle] [Chuckle] [Chuckle] In addition, the stock price starts to stand above the ema200 line, which ia a strong trend reversal signal. NIO daily chart How do you see the EV short term trend for next week? Kindly leave your comments below and make the discussion fruitful! [Bless] @CaptainTiger @MillionaireTiger @Daily_Discussion @TigerStars
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