$Bilibili Inc.(BILI)$
This pattern initially bolstered by the perceived breakout instilled a sense of optimism among some traders, amplifying the buying spree. The bullish sentiment EVAPORATED when profit-taking set in, and sellers emerged, driving the price down. This "closing higher, ending lower" pattern signifies a reversal in momentum, a strong indication that the bears are back in control.
$XPeng Inc.(XPEV)$
Recently, XPeng might have shown some signs of life, attempting to climb back above the EMAs. This would have indicated a potential trend reversal. However, the bad news is that this attempt failed. The stock retraced back towards the EMAs but ultimately closed the lower. This "failed retest" is a bearish signal, suggesting sellers are in control and pushing the price down further.
Not only did XPeng close lower for the week, but it also closed below the previous low point. This is a significant technical breakdown, signifying a potential acceleration of the downtrend. Previous support levels that once held now become resistance, making it harder for the stock to rise.
$NIO Inc.(NIO)$
Modify on 2024-03-31 22:32
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- jazzyco·04-01Wah, thanks for sharing this insightful analysis!LikeReport