To The Moon

Tariffs hike for Chinese EVs! The European Union has hiked tariffs on electric cars imported from China, drawing a rebuke from Beijing, which sees the bloc as a vital and growing market for its auto industry. Additional tariffs of between 17.4% and 38.1% will be applied on top of the existing EU duty of 10%, according to a statement from the European Commission. That takes the highest overall rate to close to 50%. NIO Among popular Hong Kong stocks, shares of Chinese EV maker Nio have plunged 53% so far this year. Concerns about the company's profitability and intense competition in the Chinese EV market are impacting investor sentiment. Moreover, macro pressures are also weighing on Nio stock. These headwinds could continue to drag down Nio shares in the near term. NIO share price What a wasted rebound for NIO share price since earlier May, all being erased during the past weeks due to the release of disappointing earnings. If we zoom out a bit for its mid term trend, it seems like NIO is still facing difficulties to breakout beyond its downtrend line since December 2023, as illustrated by the orange line. For such, I remain bearish for $NIO Inc.(NIO)$ and believe it will continue to pullback towards 3.63 USD final support. XPENG This week, Xpeng makes debut in Egypt marking another milestone in global expansion. Egypt is “experiencing a rapid growth in the electric vehicle market, driven by government incentives and a growing awareness of environmental sustainability.” So Xpeng's entry into the market helps spur further growth in the sector. Xpeng daily chart Approximately around mid May, after the company released its earnings, Xpeng rallied but then erased all its gain towards the end of the same day, leaving a shooting star bearish pattern as highlighted by the green arrow in the chart above. Since then, the share price consolidated and stayed above the orange coloured trendline. However, last week, the share price finally failed to sustain above the uptrend line and broke below. This signifies the beginning of another short term downtrend and I strongly believe the share price will be bearish $XPeng Inc.(XPEV)$ next week until it finds its near term support. LI Li Auto said it has postponed plans to launch pure electric SUV models to next year, citing hurdles such as a lack of enough fast chargers. The decision comes as Li Auto, which has built its profits and success on four extended-range gas electric hybrid models, has also encountered a setback with its first fully electric model Mega that didn't meet its original expectation of sales. LI daily chart Li used to be the strongest among the Chinese EV trio but this year, it has the worst chart among them. As we can observe from its technical chart shared above, it is very obvious that we can conclude that Li share price is extremely bearish and has been traded under a parallel downtrend channel since early March. As long as the share price doesn't break out from this downwards channel, I am bearish for $Li Auto(LI)$ in short to mid term. The good news is it seems like Li share price refuses to go lower and start consolidate recently, it might reach its bottom already. Do you like to invest in US or China EV stocks? What are the reasons behind? Come and join the discussion with us. @TigerStars @Tiger_comments @MillionaireTiger @CaptainTiger @TigerGPT