XPEV stock analysis
The Xpeng $XPeng Inc.(XPEV)$ stock price gained 8.21% on Friday, 25th Aug 2023, rising from $16.20 to $17.53. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 7.20% from a day low at $16.40 to a day high of $17.58. The price has been going up and down for this period, and there has been a 7.68% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 8 million more shares were traded than the day before. In total, 19 million shares were bought and sold for approximately $338.38 million.
The stock lies in the lower part of a very wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $15.85 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 67.49% during the next 3 months and, with a 90% probability hold a price between $26.55 and $45.03 at the end of this 3-month period.
XPEV Signals & Forecast
The Xpeng stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $16.11 and $16.70. A breakdown below any of these levels will issue sell signals. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Friday, July 28, 2023, and so far it has fallen -25.05%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Xpeng stock
On the downside, the stock finds support just below today's level from accumulated volume at $14.98 and $13.78. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Xpeng finds support just below today's level at $14.98. If this is broken, then the next support from accumulated volume will be at $13.78 and $13.42.
This stock may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved $1.18 between high and low, or 7.20%. For the last week, the stock has had daily average volatility of 7.09%.
Our recommended stop-loss: $16.80 (-4.16%) (This stock has very high daily movements and this gives very high risk. There is a sell signal from a pivot top found 20 days ago.)
Trading Expectations (XPEV) For The Trading Day Of Monday 28th
For the trading day on Monday, 28th we expect Xpeng Inc to open at $17.17, and during the day (based on 14 day Average True Range), to move between $16.25 and $18.81, which gives a possible trading interval of +/-$1.28 (+/-7.29%) up or down from last closing price. If Xpeng Inc takes out the full calculated possible swing range there will be an estimated 14.59% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $19.46 (11.01%) than the support at $14.98 (14.55%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Xpeng Inc stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Xpeng stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.
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