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Rebound of Chinese Trio EV Makers
@Shyon：
Carried by the EV leaders and bullish investment sentiment in Hong Kong and China markets, the famous Chinese EV trio rebounded strongly during Friday's trading session. Let's look into the technical analysis and prediction for these stocks movement next week. Chinese EV Trio - Nio Xpeng Li Nio announced on Thursday that it entered into strategic cooperation with Lotus Technology on charging and swapping. The announcement was made at the 2024 Beijing International Automotive Exhibition. The two companies plan to carry out comprehensive and in-depth strategic cooperation in areas related to charging and swapping, including battery standards, charging and swapping technologies, battery asset management and operations, service network construction and operations, vehicle R&D and customization, and connectivity. Nio daily chart Technically, Nio successfully broke up from its downtrend line (drawn in Orange on the chart above) since early last week. Then, the stock began to rally, with a significant gain on Friday. For such, I am bullish for Nio $NIO Inc.(NIO)$ next week as I do believe the strong bullish momentum is highly to continue. My next target price for Nio will be around 5.30 USD which is about 17% gain from the current price. How about Xpeng? Xpeng has a very similar chart pattern as Nio. The share price plummeted since mid March after it broke down below the uptrend line. Until recently, last night to be exact, Xpeng stock successfully broke out from the downtrend line resistance. The breakout with gap up and big volume might represent a potential trend reversal for the stock. My prediction for XPEV will be the same as Nio, I believe Xpeng $XPeng Inc.(XPEV)$ will continue to be bullish next week. Xpeng daily chart Let's end with Li. As compared to Nio and Xpeng, Li Auto has a weaker chart, as the share price has not yet broken out from the orange downtrend resistant line. Moreover, it has a major neckline resistance at 26.53 to overcome as well. I will remain bearish for Li Auto $Li Auto(LI)$ until the share price stands back to 26.53 USD. LI Auto daily chart How do you find the rebound in Chinese EV stocks recently? Do you still have your faith in Chinese stocks as most of them are suffering over the years? Come and share your points of view with us ya! @TigerStars @CaptainTiger @MillionaireTiger @Tiger_comments @TigerGPT
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