To The Moon

EV sector was hot early this year but significantly lost its momentum towards the mid of the year. The pullback was quite serious too, basically erased most of the gain that happen in June or July. But then there are still a few companies with stronger stock price movement. Let's look into their technical aspect today. 

Tesla

Let's start with the king, the leader in the industry! What a great news to see Tesla being able to sustain above the EMA200 trend line. As shown in the figure below, an ascending triangle pattern is in formation and I think a breakout is very possible by end of next week. The worst should be over for Tesla, a$Tesla Motors(TSLA)$  vote for Tesla and EM! In long run, 300 will be my next target price which I believe should be easily achieved within 6 months.

TSLA

Rivian

RIVN

Rivian, used to be the meme among the EVs. Rivian share price doesn't look strong at all for the past half year, probably due to its financial stability and non extraordinary earnings results. For the past 3 days, Rivian seems to challenge the nearest resistance at 19.55 USD. Any breakout beyond this resistance next week will send the stock to the target price of 24. I got a bullish vote for $Rivian Automotive, Inc.(RIVN)$  .

Chinese Trio

Now let's look at the famous Chinese 3 EV trio, Li, Xpeng and Nio. Without doubt, Li is the strongest among the 3 with solid and impressive delivery all the while. Nio is the most disappointing one, which is justified by its stock price as well. However, the good news is Nio's latest earnings results show a positive turnaround for the company! Looking forward to next quarter. In overall, we can notice that the delivery quantities for all the Trio are coming back slowly and the profit margin is on track of getting higher after bottomed early this year. In mid to long-term, I am bullish for $Li Auto(LI)$  $NIO Inc.(NIO)$  $XPeng Inc.(XPEV)$  . Specially for Li and Xpeng, both of them are at the critical support line of EMA200, therefore a strong rebound is to be expected in near term. 

LI

NIO

XPEV

Nutshell

In short, EV sector might experience some pullback and correction maybe in mid to short term. But for long-term, I am quite confident that the sector will be extremely bullish.

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