To The Moon

Following my previous article on Tesla, let's talk about China EV counters. These EV counters had been quite calm since the huge rally in July. Investors are probably waiting for this wave of correction to end before opening a new position in these stocks. So, do you think the correction wave will finish soon or the stocks will continue remain at a consolidation phase for incoming weeks? XPEV Similar to Tesla, XPeng is also forming a symmetrical triangle pattern since mid August. The fluctuation range is getting smalller at this consolidation phase I believe XPeng will have a higher chance to breakout upwards instead of downwards. It should choose its direction pretty soon. I am $XPeng Inc.(XPEV)$ for it next week. Moreover, Xpeng will hold a launch event for the new G9 on September 19 in Dunhuang, which might further stimulate the stock price. XPEV daily chart NIO NIO daily chart As compared to XPEV, NIO is rather weaker as it erases all its gain in August. Currently the stock is at a consolidation phase and testing the blue line support. A bit worrying if the stock tends to breakout downwards, the downside will be huge. It's hard to judge based on technical for NIO this week. Fundamental wise, NIO is experiencing stronger delivery growth, with an increase of 81% YoY in August 2023. The company's delivery rebound is a promising sign that supply chain issues and production delays are improving. Therefore, I am short term $NIO Inc.(NIO)$ for the company. NIO EC6 LI LI, formation of a descending triangle, worth to put in your watchlist and monitor for a potential breakout from the downtrend line which might reverse the stock trend for the incoming weeks. Without doubt, LI is still the strongest in chart as compared to NIO and XPEV. LI daily chart Li's success at capturing a greater share of the Chinese EVs market may continue, helping to outweigh the impact of a sluggish economy on overall EV sales. If Li's monthly delivery and quarterly results continue to meet market expectations, there is chance for this stock to start another big rally! Therefore, I am $Li Auto(LI)$ for LI next week. XIAOMI Another EV company? Hmmm interesting. We saw news stating that Xiaomi first EV model is now in the trial of production phase, with around 50 prototypes being produced every week. With the target to produce its first EV model in the first half of 2024, I am mid term $XIAOMI-W(01810)$ Bullish. @CaptainTiger @Tiger_comments @Tiger_SG @Daily_Discussion @MillionaireTiger @TigerStars